TETRA Technologies (TTI) Sees Unusually-High Trading Volume
TETRA Technologies, Inc. (NYSE:TTI) shares saw an uptick in trading volume on Friday . 2,265,798 shares changed hands during mid-day trading, an increase of 185% from the previous session’s volume of 795,759 shares.The stock last traded at $2.55 and had previously closed at $2.36.
A number of brokerages have commented on TTI. Zacks Investment Research raised TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Thursday. Johnson Rice cut TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Finally, Raymond James cut TETRA Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. TETRA Technologies currently has a consensus rating of “Hold” and an average price target of $6.10.
The company has a quick ratio of 1.28, a current ratio of 2.00 and a debt-to-equity ratio of 2.61. The company has a market cap of $320.35 million, a P/E ratio of -51.00 and a beta of 1.59.
In related news, CEO Stuart M. Brightman bought 100,000 shares of the company’s stock in a transaction dated Friday, December 28th. The shares were bought at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,258,163 shares of the company’s stock, valued at $1,774,009.83. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.69% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in shares of TETRA Technologies in the fourth quarter valued at approximately $32,000. Wealthsource Partners LLC bought a new position in shares of TETRA Technologies in the fourth quarter valued at approximately $34,000. Oregon Public Employees Retirement Fund bought a new position in shares of TETRA Technologies in the fourth quarter valued at approximately $48,000. SG Americas Securities LLC lifted its holdings in shares of TETRA Technologies by 206.7% in the fourth quarter. SG Americas Securities LLC now owns 34,222 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 23,065 shares in the last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of TETRA Technologies in the fourth quarter valued at approximately $59,000. Institutional investors own 83.16% of the company’s stock.
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About TETRA Technologies (NYSE:TTI)
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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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