TETRA Technologies (NYSE:TTI) Raised to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies (NYSE:TTI) to a strong-buy rating in a report issued on Monday, Zacks.com reports.

Separately, StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $7.00.

TETRA Technologies Stock Performance

Shares of TTI stock opened at $2.97 on Monday. TETRA Technologies has a one year low of $2.68 and a one year high of $6.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.72 and a current ratio of 2.41. The company has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.52. The firm has a market capitalization of $388.83 million, a price-to-earnings ratio of 18.53 and a beta of 2.04.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The company had revenue of $171.94 million for the quarter, compared to analyst estimates of $180.66 million. Sell-side analysts anticipate that TETRA Technologies will post 0.18 EPS for the current year.

Institutional Investors Weigh In On TETRA Technologies

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd boosted its stake in shares of TETRA Technologies by 82.0% in the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 5,966 shares during the period. nVerses Capital LLC purchased a new position in shares of TETRA Technologies in the second quarter valued at $53,000. Principal Financial Group Inc. boosted its stake in shares of TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 2,251 shares during the period. Norden Group LLC purchased a new position in shares of TETRA Technologies in the first quarter valued at $83,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of TETRA Technologies in the first quarter valued at $84,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

About TETRA Technologies

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.