Emerald Advisers Inc. PA boosted its stake in Tetra Technologies Inc. (NYSE:TTI) by 41.5% during the second quarter, Holdings Channel reports. The institutional investor owned 37,725 shares of the company’s stock after buying an additional 11,070 shares during the period. Emerald Advisers Inc. PA’s holdings in Tetra Technologies were worth $240,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock valued at $34,572,000 after buying an additional 16,658 shares in the last quarter. Prudential Financial Inc. increased its position in Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock valued at $2,097,000 after buying an additional 97,200 shares during the period. HBK Investments L P increased its position in Tetra Technologies by 1.2% in the first quarter. HBK Investments L P now owns 377,436 shares of the company’s stock valued at $2,397,000 after buying an additional 4,636 shares during the period. Bank of Montreal Can bought a new position in Tetra Technologies during the second quarter valued at approximately $358,000. Finally, Goldman Sachs Group Inc. increased its position in Tetra Technologies by 66.3% in the first quarter. Goldman Sachs Group Inc. now owns 172,582 shares of the company’s stock valued at $1,096,000 after buying an additional 68,790 shares during the period. 89.92% of the stock is owned by institutional investors.
Shares of Tetra Technologies Inc. (NYSE:TTI) traded down 1.32% during trading on Thursday, hitting $5.99. 667,834 shares of the stock were exchanged. Tetra Technologies Inc. has a one year low of $4.62 and a one year high of $9.44. The stock’s 50 day moving average price is $5.98 and its 200-day moving average price is $6.12. The company’s market cap is $555.30 million.
Tetra Technologies (NYSE:TTI) last released its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The business earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. The company’s quarterly revenue was down 44.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, analysts predict that Tetra Technologies Inc. will post ($0.48) EPS for the current year.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday. Wunderlich increased their price objective on shares of Tetra Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 16th. JPMorgan Chase & Co. set a $8.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a report on Tuesday, August 9th. Credit Suisse Group AG reissued an “outperform” rating and set a $8.00 price objective on shares of Tetra Technologies in a report on Monday, July 18th. Finally, Simmons reissued an “overweight” rating and set a $7.60 price objective (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Tetra Technologies currently has an average rating of “Buy” and an average target price of $8.26.
In other news, VP Keith L. Schilling sold 24,341 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the sale, the vice president now owns 111,161 shares of the company’s stock, valued at $708,095.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.45% of the company’s stock.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.