The stock of TETRA Technologies, Inc. (NYSE:TTI) hit a new 52-week low and has $3.86 target or 13.00% below today’s $4.44 share price. The 9 months bearish chart indicates high risk for the $437.29 million company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $3.86 price target is reached, the company will be worth $56.85 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 274,420 shares traded hands. TETRA Technologies, Inc. (NYSE:TTI) has declined 18.52% since April 5, 2016 and is downtrending. It has underperformed by 20.48% the S&P500.
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 18 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Wunderlich maintained it with “Buy” rating and $10 target price in Friday, June 10 report. Howard Weil downgraded the shares of TTI in a report on Monday, March 28 to “Sector Perform” rating. Wunderlich maintained the shares of TTI in a report on Tuesday, May 10 with “Buy” rating. Cowen & Co maintained TETRA Technologies, Inc. (NYSE:TTI) rating on Tuesday, May 10. Cowen & Co has “Outperform” rating and $8 price target. Zacks upgraded TETRA Technologies, Inc. (NYSE:TTI) rating on Thursday, August 13. Zacks has “Hold” rating and $8.50 price target. The company was upgraded on Monday, August 10 by Simmons & Co. The rating was upgraded by JP Morgan on Tuesday, November 10 to “Overweight”. The firm has “Outperform” rating given on Monday, July 18 by Credit Suisse. The firm has “Outperform” rating by RBC Capital Markets given on Tuesday, May 10. The stock of TETRA Technologies, Inc. (NYSE:TTI) earned “Outperform” rating by RBC Capital Markets on Tuesday, November 8.
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 increased to 2.18 in Q2 2016. Its up 0.95, from 1.23 in 2016Q1. The ratio is positive, 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.
Teacher Retirement System Of Texas accumulated 0% or 11,137 shares. Airain accumulated 50,469 shares or 0.02% of the stock. Comerica Financial Bank holds 0% of its portfolio in TETRA Technologies, Inc. (NYSE:TTI) for 90,600 shares. Nordea Invest Ab has 0% invested in the company for 258,000 shares. Blackrock Inv Limited Liability Com has 361,376 shares for 0% of their US portfolio. Fuller & Thaler Asset Mgmt reported 4.28M shares or 0.47% of all its holdings. Moreover, Bronson Point Management Ltd Company has 1.08% invested in TETRA Technologies, Inc. (NYSE:TTI) for 505,000 shares. Pacad Investment Limited, a British Columbia – Canada-based fund reported 87,277 shares. Us Natl Bank De has 0% invested in the company for 17 shares. Prudential holds 0% or 345,580 shares in its portfolio. Arizona State Retirement System has 45,625 shares for 0% of their US portfolio. Energ Opportunities Mgmt owns 10,250 shares or 0.02% of their US portfolio. California State Teachers Retirement Systems last reported 0% of its portfolio in the stock. Fmr Limited Liability Corp last reported 2.70 million shares in the company. Capstone Asset Mgmt holds 0% or 21,556 shares in its portfolio.
Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 2 selling transactions for $215,854 net activity. 11,246 shares with value of $60,849 were sold by MEYER JOSEPH J on Tuesday, May 31. SCHILLING KEITH L had sold 24,341 shares worth $155,005 on Monday, August 29.
More notable recent TETRA Technologies, Inc. (NYSE:TTI) news were published by: Prnewswire.com which released: “TETRA Technologies, Inc. Announces Third Quarter 2016 Results And Updates …” on November 07, 2016, also Streetinsider.com with their article: “Form 4 TETRA TECHNOLOGIES INC For: Nov 04 Filed by: WALLACE BASS C JR” published on November 07, 2016, Prnewswire.com published: “Tetra Technologies, Inc. Announces Closing Of Public Offering Of Common Stock” on June 21, 2016. More interesting news about TETRA Technologies, Inc. (NYSE:TTI) were released by: Prnewswire.com and their article: “TETRA Technologies, Inc. Announces Second Quarter 2016 Results” published on August 08, 2016 as well as Fool.com‘s news article titled: “A 10-Million-Share Equity Offering Sinks TETRA Technologies, Inc.’s Stock” with publication date: June 16, 2016.
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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