TETRA Technologies, Inc. (NYSE:TTI) Short Interest Up 19.2% in July – MarketBeat
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TETRA Technologies, Inc. (NYSE:TTI – Get Rating) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,550,000 shares, a growth of 19.2% from the July 15th total of 2,140,000 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is presently 1.8 days.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Covestor Ltd acquired a new stake in TETRA Technologies in the first quarter valued at approximately $31,000. Sciencast Management LP acquired a new stake in TETRA Technologies in the first quarter valued at approximately $42,000. Saltoro Capital LP acquired a new stake in TETRA Technologies in the fourth quarter valued at approximately $53,000. Point72 Hong Kong Ltd boosted its position in shares of TETRA Technologies by 506.1% during the first quarter. Point72 Hong Kong Ltd now owns 13,662 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 11,408 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of TETRA Technologies by 40.0% during the first quarter. Avantax Advisory Services Inc. now owns 17,500 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 5,000 shares during the last quarter. 66.12% of the stock is owned by institutional investors.
TETRA Technologies Stock Up 1.5 %
Shares of NYSE TTI traded up $0.06 during midday trading on Friday, reaching $4.14. The company’s stock had a trading volume of 941,990 shares, compared to its average volume of 1,356,309. The company has a current ratio of 2.04, a quick ratio of 1.47 and a debt-to-equity ratio of 1.45. TETRA Technologies has a fifty-two week low of $2.32 and a fifty-two week high of $5.82. The stock has a market capitalization of $531.00 million, a price-to-earnings ratio of 51.76 and a beta of 2.71. The stock has a 50 day simple moving average of $4.20 and a 200-day simple moving average of $3.91.
TETRA Technologies (NYSE:TTI – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. TETRA Technologies had a net margin of 2.26% and a return on equity of 14.72%. During the same quarter last year, the company earned ($0.02) EPS. Equities research analysts predict that TETRA Technologies will post 0.22 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, Johnson Rice upgraded shares of TETRA Technologies from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, June 24th.
TETRA Technologies Company Profile
(Get Rating)
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. It operates through Completion Fluids & Products Division and Water & Flowback Services segments. 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.
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