Is TETRA Technologies Inc. (TTI) positioned for future growth?

TETRA Technologies Inc. (NYSE: TTI) stock fell -6.91% on Friday to $3.64 against a previous-day closing price of $3.91. With 2.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.46 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $3.9500 whereas the lowest price it dropped to was $3.5700. The 52-week range on TTI shows that it touched its highest point at $5.82 and its lowest point at $2.32 during that stretch. It currently has a 1-year price target of $6.50. Beta for the stock currently stands at 2.73.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TTI was down-trending over the past week, with a drop of -17.08%, but this was down by -3.45% over a month. Three-month performance dropped to -17.27% while six-month performance rose 19.74%. The stock gained 8.01% in the past year, while it has gained 28.17% so far this year. A look at the trailing 12-month EPS for TTI yields 0.02 with Next year EPS estimates of 0.32. For the next quarter, that number is 0.06. This implies an EPS growth rate of -181.00% for this year and 45.00% for next year. EPS is expected to grow by 29.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 39.70%.

Float and Shares Shorts:

At present, 127.26 million TTI shares are outstanding with a float of 114.86 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.14 million, which was 1.67% higher than short shares on Jun 14, 2022. In addition to Mr. Brady M. Murphy as the firm’s Pres, CEO & Director, Mr. Elijio V. Serrano serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 58.38% of TTI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.39% of TTI, in contrast to 30.98% held by mutual funds. Shares owned by individuals account for 26.75%. As the largest shareholder in TTI with 5.99% of the stake, Fuller & Thaler Asset Management, holds 7,646,844 shares worth 7,646,844. A second-largest stockholder of TTI, BlackRock Fund Advisors, holds 7,344,571 shares, controlling over 5.75% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TTI, holding 5,720,099 shares or 4.48% stake. With a 4.51% stake in TTI, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 5,760,653 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.67% of TTI stock, is the second-largest Mutual Fund holder. It holds 3,406,248 shares valued at 13.83 million. iShares Russell 2000 ETF holds 2.17% of the stake in TTI, owning 2,766,884 shares worth 11.23 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTI since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TTI analysts setting a high price target of $8.00 and a low target of $5.00, the average target price over the next 12 months is $6.50. Based on these targets, TTI could surge 119.78% to reach the target high and rise by 37.36% to reach the target low. Reaching the average price target will result in a growth of 78.57% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TTI will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of $0.25 being high and $0.20 being low. For TTI, this leads to a yearly average estimate of $0.22. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TETRA Technologies Inc. surprised analysts by -$0.01 when it reported $0.05 EPS against a consensus estimate of $0.06. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is $0.04. The average estimate for the next quarter is thus $0.05.

Summary of Insider Activity:

Insiders traded TTI stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 166,026 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 1,671,491 while 841,312 shares were sold.

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