TETRA Technologies, Inc. (NYSE:TTI) Short Interest Update

TETRA Technologies, Inc. (NYSE:TTI) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,220,000 shares, a decrease of 24.2% from the February 13th total of 4,250,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 3.1 days. Currently, 2.6% of the company’s stock are sold short.

Hedge Funds Weigh In On TETRA Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KLCM Advisors Inc. purchased a new position in TETRA Technologies in the 4th quarter worth $36,000. HighTower Advisors LLC purchased a new position in TETRA Technologies in the 4th quarter worth $39,000. Aquatic Capital Management LLC purchased a new position in TETRA Technologies in the 4th quarter worth $40,000. Townsquare Capital LLC purchased a new position in TETRA Technologies in the 3rd quarter worth $36,000. Finally, Cibc World Markets Corp purchased a new position in TETRA Technologies in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Stock Performance

Shares of TTI opened at $3.35 on Monday. TETRA Technologies has a 12 month low of $2.68 and a 12 month high of $5.12. The stock has a fifty day moving average price of $4.13 and a 200-day moving average price of $3.67. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The firm has a market cap of $442.86 million, a PE ratio of 167.33 and a beta of 2.04.

TETRA Technologies (NYSE:TTI) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $134.50 million during the quarter, compared to analyst estimates of $138.96 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. Equities research analysts predict that TETRA Technologies will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a “buy” rating and set a $5.50 price objective on shares of TETRA Technologies in a report on Thursday, February 27th.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.