Insider Buying: TETRA Technologies, Inc. (TTI) CEO Purchases 40,000 Shares of Stock

TETRA Technologies, Inc. (NYSE:TTI) CEO Stuart M. Brightman purchased 40,000 shares of TETRA Technologies stock in a transaction that occurred on Friday, March 17th. The stock was bought at an average cost of $3.85 per share, with a total value of $154,000.00. Following the completion of the transaction, the chief executive officer now owns 875,294 shares of the company’s stock, valued at $3,369,881.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of TETRA Technologies, Inc. (NYSE:TTI) traded down 2.09% during midday trading on Monday, hitting $3.75. 548,211 shares of the stock were exchanged. The firm has a 50-day moving average price of $4.53 and a 200-day moving average price of $5.19. The company’s market cap is $433.62 million. TETRA Technologies, Inc. has a 12-month low of $3.46 and a 12-month high of $7.75.

TETRA Technologies (NYSE:TTI) last issued its earnings results on Wednesday, March 1st. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.05. TETRA Technologies had a negative net margin of 35.47% and a negative return on equity of 8.79%. The business earned $173.22 million during the quarter, compared to analysts’ expectations of $170.47 million. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue was down 32.8% on a year-over-year basis. On average, equities analysts predict that TETRA Technologies, Inc. will post ($0.22) EPS for the current year.

Insider Buying and Selling by Quarter for TETRA Technologies (NYSE:TTI)

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A number of equities research analysts recently weighed in on TTI shares. Vetr cut shares of TETRA Technologies from a “strong-buy” rating to a “buy” rating and set a $5.00 price target for the company. in a research report on Tuesday, January 17th. Bank of America Corp started coverage on shares of TETRA Technologies in a research report on Thursday, December 22nd. They issued a “buy” rating for the company. Zacks Investment Research raised shares of TETRA Technologies from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Tuesday, February 14th. Scotiabank set a $7.00 price target on shares of TETRA Technologies and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, Morgan Stanley cut shares of TETRA Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $8.00 to $6.00 in a research report on Monday, March 6th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $6.73.

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of TETRA Technologies during the fourth quarter worth approximately $15,354,000. Thrivent Financial for Lutherans raised its stake in TETRA Technologies by 19.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 701,740 shares of the company’s stock worth $3,523,000 after buying an additional 115,740 shares during the last quarter. Bogle Investment Management L P DE purchased a new stake in TETRA Technologies during the fourth quarter worth $1,145,000. A.R.T. Advisors LLC raised its stake in TETRA Technologies by 200.0% in the fourth quarter. A.R.T. Advisors LLC now owns 83,100 shares of the company’s stock worth $417,000 after buying an additional 55,400 shares during the last quarter. Finally, Gardner Lewis Asset Management L P purchased a new stake in TETRA Technologies during the fourth quarter worth $1,402,000. 69.47% of the stock is currently owned by institutional investors and hedge funds.

TETRA Technologies Company Profile

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.

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