Short Interest in Tetra Technologies, Inc. (NYSE:TTI) Rises By 24.5%

Tetra Technologies, Inc. (NYSE:TTI) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 9,664,232 shares, an increase of 24.5% from the December 15th total of 7,760,002 shares. Based on an average daily volume of 1,877,577 shares, the short-interest ratio is presently 5.1 days. Currently, 7.7% of the company’s shares are short sold. Currently, 7.7% of the company’s shares are short sold. Based on an average daily volume of 1,877,577 shares, the short-interest ratio is presently 5.1 days.

Analyst Ratings Changes

Several analysts have weighed in on the company. CJS Securities started coverage on Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective for the company. Stifel Nicolaus upped their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Finally, Northland Securities increased their target price on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.25.

Insider Buying and Selling

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the sale, the vice president directly owned 132,672 shares of the company’s stock, valued at $1,053,415.68. The trade was a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Tetra Technologies during the fourth quarter valued at $7,386,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Tetra Technologies in the 4th quarter worth about $25,359,000. SG Americas Securities LLC purchased a new position in Tetra Technologies during the 4th quarter valued at about $591,000. Diversified Trust Co. boosted its stake in Tetra Technologies by 5.6% during the fourth quarter. Diversified Trust Co. now owns 45,436 shares of the oil and gas company’s stock worth $426,000 after acquiring an additional 2,396 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Tetra Technologies by 24.1% in the fourth quarter. Fulton Bank N.A. now owns 44,054 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 8,558 shares during the period. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Trading Down 1.0%

Shares of NYSE:TTI traded down $0.12 on Tuesday, hitting $11.45. The company had a trading volume of 335,680 shares, compared to its average volume of 2,163,325. The firm’s 50-day simple moving average is $8.93 and its two-hundred day simple moving average is $6.46. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 12.60 and a beta of 1.11. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. Tetra Technologies has a 1 year low of $2.03 and a 1 year high of $11.88.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The company had revenue of $153.24 million for the quarter, compared to analysts’ expectations of $144.40 million. Equities analysts anticipate that Tetra Technologies will post 0.15 earnings per share for the current fiscal year.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.