Fuller & Thaler Asset Management, recently announced the acquisition of new stake in TETRA Technologies Inc. (NYSE:TTI). The institutional investor has increased its shareholding in the Energy company by 6.92% to 7.73 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 6.01% valued currently at $27.54 million. In addition, BlackRock Fund Advisors raised its holdings by 0.25 million to 7.56 million shares. And Neuberger Berman Investment Advis has lifted its position by 4.75% or 0.18 million shares – to 4.05 million shares.
With over 3.57 million TETRA Technologies Inc. (TTI) shares trading Friday and a closing price of $3.22 on the day, the dollar volume was approximately $11.51 million. The shares have shown a negative half year performance of -20.88% and its price on 03/10/23 lost nearly -3.59%. Currently, there are 128.66M common shares owned by the public and among those 115.78M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for TTI have a consensus price objective of $7.13. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $6.00. The average price target is 54.78% above its recent price level and an upside to the estimated low will see the stock gain 46.33% over that period. But an upside of 62.12% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 1,382,294 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 688,658 shares.
The top 3 mutual fund holders in TETRA Technologies Inc. are Undiscovered Managers Behavioral, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Undiscovered Managers Behavioral owns 6.28 million shares of the company’s stock, all valued at over $22.35 million. The company bought an additional 29900.0 shares recently to bring their total holdings to about 4.88% of the shares outstanding. iShares Russell 2000 ETF sold 8676.0 shares to bring its total holdings to over 2.74 million shares at a value of $9.77 million. iShares Russell 2000 ETF now owns shares totaling to 2.13% of the shares outstanding.
Shares of TETRA Technologies Inc. (NYSE: TTI) opened at $3.35, up $0.01 from a prior closing price of $3.34. However, the script later moved the day high at 3.4150, down -3.59%. The company’s stock has a 5-day price change of -10.56% and -7.47% over the past three months. TTI shares are trading -6.94% year to date (YTD), with the 12-month market performance down to -8.78% lower. It has a 12-month low price of $2.98 and touched a high of $5.82 over the same period. TTI has an average intraday trading volume of 945.99K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.46%, -13.66%, and -19.59% respectively.
Institutional ownership of TETRA Technologies Inc. (NYSE: TTI) shares accounts for 62.60% of the company’s 128.66M shares outstanding. Mutual fund holders own 35.43%, while other institutional holders and individual stakeholders account for 9.05% and 29.67% respectively.
It has a market capitalization of $429.71M and a beta (3y monthly) value of 2.61. The stock’s trailing 12-month PE ratio is 54.58, while the earnings-per-share (ttm) stands at $0.06. The company has a PEG of 1.88 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.25% over the week and 5.68% over the month.
Analysts forecast that TETRA Technologies Inc. (TTI) will achieve an EPS of $0.03 for the current quarter, $0.06 for the next quarter and $0.3 for 2023. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 143.70%, and 53.33% over the next financial year. EPS should grow at an annualized rate of 29.00% over the next five years, compared to -27.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate TETRA Technologies Inc. (TTI) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TTI, a number of firms have released research notes about the stock. Johnson Rice stated their Buy rating for the stock in a research note on June 24, 2022, with the firm’s price target at $7. Stifel coverage for the TETRA Technologies Inc. (TTI) stock in a research note released on February 03, 2021 offered a Buy rating with a price target of $3. Evercore ISI was of a view on February 02, 2021 that the stock is Outperform, while Wells Fargo gave the stock Equal Weight rating on March 13, 2020, issuing a price target of $2.25- $1. B. Riley FBR on their part issued Neutral rating on March 11, 2020.
