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

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

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

TETRA Technologies Stock Down 2.8 %

TTI stock opened at $3.29 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.41 and a quick ratio of 1.72. The stock has a market capitalization of $431.81 million, a P/E ratio of 41.07 and a beta of 2.04. The business has a 50-day moving average of $3.12 and a 200-day moving average of $3.54. TETRA Technologies has a fifty-two week low of $2.68 and a fifty-two week high of $6.16.

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

Hedge Funds Weigh In On TETRA Technologies

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