Stock of the Day: Could TETRA Technologies, Inc. Change Direction After Today’s Huge Increase?

Stock of the Day: Could TETRA Technologies, Inc. Change Direction After Today's Huge Increase?

The stock of TETRA Technologies, Inc. (NYSE:TTI) is a huge mover today! About 978,689 shares traded hands. TETRA Technologies, Inc. (NYSE:TTI) has declined 31.75% since April 27, 2016 and is downtrending. It has underperformed by 36.98% the S&P500.
The move comes after 7 months positive chart setup for the $468.11 million company. It was reported on Nov, 30 by Barchart.com. We have $5.80 PT which if reached, will make NYSE:TTI worth $37.45 million more.

Analysts await TETRA Technologies, Inc. (NYSE:TTI) to report earnings on February, 24. They expect $-0.06 earnings per share, down 700.00% or $0.07 from last year’s $0.01 per share. After $-0.05 actual earnings per share reported by TETRA Technologies, Inc. for the previous quarter, Wall Street now forecasts 20.00% negative EPS growth.

TETRA Technologies, Inc. (NYSE:TTI) Ratings Coverage

Out of 10 analysts covering Tetra Technologies (NYSE:TTI), 9 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 90% are positive. Tetra Technologies has been the topic of 20 analyst reports since August 10, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Outperform” rating and $7 target price in Tuesday, November 8 report. Howard Weil downgraded the stock to “Sector Perform” rating in Monday, March 28 report. On Monday, July 18 the stock rating was reinitiated by Credit Suisse with “Outperform”. The rating was upgraded by Howard Weil on Wednesday, November 16 to “Sector Outperform”. As per Tuesday, November 8, the company rating was downgraded by Credit Suisse. The firm has “Outperform” rating by Cowen & Co given on Tuesday, May 10. The firm has “Overweight” rating given on Thursday, August 11 by Morgan Stanley. The rating was maintained by Wunderlich with “Buy” on Monday, November 9. RBC Capital Markets maintained TETRA Technologies, Inc. (NYSE:TTI) on Tuesday, May 10 with “Outperform” rating. The firm has “Outperform” rating given on Tuesday, October 18 by Wells Fargo.

According to Zacks Investment Research, “TETRA Technologies, Inc. is an energy services company with an integrated chemicals operation that supplies chemical products to energy markets, as well as other markets. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services.”

Insitutional Activity: The institutional sentiment decreased to 1.5 in 2016 Q2. Its down 0.68, from 2.18 in 2016Q1. The ratio dropped, as 12 funds sold all TETRA Technologies, Inc. shares owned while 32 reduced positions. 31 funds bought stakes while 65 increased positions. They now own 80.80 million shares or 13.42% more from 71.24 million shares in 2016Q1.
Tiaa Cref Investment Mngmt Ltd accumulated 0% or 636,762 shares. Alliancebernstein L P holds 0% of its portfolio in TETRA Technologies, Inc. (NYSE:TTI) for 124,573 shares. Envestnet Asset Management Inc owns 4,241 shares or 0% of their US portfolio. The New York-based Millennium Mgmt Ltd Liability has invested 0.04% in TETRA Technologies, Inc. (NYSE:TTI). Vanguard Group has 0% invested in the company for 8.39 million shares. The New York-based Lucus Limited Liability Corp has invested 0.29% in TETRA Technologies, Inc. (NYSE:TTI). Sandy Spring Bank owns 1,000 shares or 0% of their US portfolio. Moreover, Ent Fincl Services Corporation has 0% invested in TETRA Technologies, Inc. (NYSE:TTI) for 371 shares. Blackrock Fund Advsr owns 6.05 million shares or 0.01% of their US portfolio. Moreover, Schwab Charles has 0.01% invested in TETRA Technologies, Inc. (NYSE:TTI) for 1.24M shares. The Florida-based Raymond James & Associates has invested 0% in TETRA Technologies, Inc. (NYSE:TTI). Barclays Public Limited has 0% invested in the company for 237,457 shares. Pacad Limited last reported 87,277 shares in the company. Tfs Cap Ltd Liability Corp has 0.29% invested in the company for 244,150 shares. Thrivent Fin For Lutherans, a Minnesota-based fund reported 583,200 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 2 sales for $230,766 net activity. 24,341 shares with value of $155,005 were sold by SCHILLING KEITH L on Monday, August 29. 14,012 shares were sold by Evans Elisabeth K, worth $75,761 on Tuesday, November 22. MEYER JOSEPH J sold $60,849 worth of TETRA Technologies, Inc. (NYSE:TTI) on Tuesday, May 31.

More recent TETRA Technologies, Inc. (NYSE:TTI) news were published by: Prnewswire.com which released: “TETRA Technologies, Inc. Announces Second Quarter 2016 Results” on August 08, 2016. Also Prnewswire.com published the news titled: “TETRA Technologies, Inc. To Purchase Series A Convertible Preferred Units From …” on August 08, 2016. Prnewswire.com‘s news article titled: “Tetra Technologies, Inc. Announces Closing Of Public Offering Of Common Stock” with publication date: June 21, 2016 was also an interesting one.

TTI Company Profile

TETRA Technologies, Inc., incorporated on February 06, 1981, is an gas and oil services company. The Firm focuses on completion fluids and associated services and products, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services, including well plugging and abandonment, decommissioning and diving. The Firm has a limited domestic gas and oil production business. It is composed of five divisions organized into four divisions: Fluids, Production Testing, Compression and Offshore.

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