TETRA Technologies, Inc. (NYSE:TTI) Short Interest Up 27.8% in … – MarketBeat

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Abbey Colton January 1, 2023

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TETRA Technologies, Inc. (NYSE:TTI – Get Rating) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,300,000 shares, a growth of 27.8% from the November 30th total of 1,800,000 shares. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is currently 2.1 days. Approximately 2.0% of the shares of the stock are sold short.

TETRA Technologies Price Performance

TETRA Technologies stock traded down $0.03 during trading hours on Friday, hitting $3.45. The stock had a trading volume of 27,093 shares, compared to its average volume of 689,606. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.01 and a quick ratio of 1.37. The stock has a market capitalization of $443.74 million, a price-to-earnings ratio of 57.50 and a beta of 2.51. TETRA Technologies has a 1-year low of $2.70 and a 1-year high of $5.82. The stock’s fifty day moving average is $3.85 and its two-hundred day moving average is $3.95.
TETRA Technologies (NYSE:TTI – Get Rating) last posted its earnings results on Monday, October 31st. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $135.01 million during the quarter, compared to analyst estimates of $132.60 million. TETRA Technologies had a net margin of 1.66% and a return on equity of 16.11%. As a group, analysts predict that TETRA Technologies will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on TETRA Technologies in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Institutional Trading of TETRA Technologies

Several large investors have recently bought and sold shares of TTI. Covestor Ltd acquired a new stake in TETRA Technologies in the first quarter valued at $31,000. Verition Fund Management LLC acquired a new stake in TETRA Technologies in the second quarter valued at $43,000. Royal Bank of Canada lifted its position in shares of TETRA Technologies by 578.1% in the third quarter. Royal Bank of Canada now owns 13,921 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 11,868 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of TETRA Technologies by 506.1% in 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 acquiring an additional 11,408 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC purchased a new stake in shares of TETRA Technologies in the third quarter valued at $58,000. Institutional investors and hedge funds own 59.55% of the company’s stock.

About TETRA Technologies

(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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abbeycolton353
Abbey Colton

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