TETRA Technologies Inc. (NYSE: TTI) stock fell -2.62% on Wednesday to $3.71 against a previous-day closing price of $3.81. With 0.47 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.15 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $3.7850 whereas the lowest price it dropped to was $3.6600. 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 $7.25. Beta for the stock currently stands at 2.61.
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 -1.85%, but this was down by -22.71% over a month. Three-month performance dropped to -11.88% while six-month performance fell -28.24%. The stock gained 24.92% in the past year, while it has gained 30.63% so far this year. A look at the trailing 12-month EPS for TTI yields 0.07 with Next year EPS estimates of 0.30. For the next quarter, that number is 0.03. This implies an EPS growth rate of -181.00% for this year and 88.27% 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, 128.41 million TTI shares are outstanding with a float of 115.78 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.67 million, which was 2.08% higher than short shares on Sep 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.
Through their ownership of 62.38% of TTI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.63% of TTI, in contrast to 34.42% held by mutual funds. Shares owned by individuals account for 27.40%. As the largest shareholder in TTI with 5.64% of the stake, Fuller & Thaler Asset Management, holds 7,234,418 shares worth 7,234,418. A second-largest stockholder of TTI, BlackRock Fund Advisors, holds 6,955,085 shares, controlling over 5.42% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TTI, holding 6,308,873 shares or 4.92% stake. With a 4.52% stake in TTI, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 5,798,753 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.73% of TTI stock, is the second-largest Mutual Fund holder. It holds 3,494,648 shares valued at 17.26 million. iShares Russell 2000 ETF holds 2.09% of the stake in TTI, owning 2,676,868 shares worth 13.22 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTI since 3 analysts follow the stock currently. There are 3 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 $9.00 and a low target of $6.00, the average target price over the next 12 months is $7.25. Based on these targets, TTI could surge 142.59% to reach the target high and rise by 61.73% to reach the target low. Reaching the average price target will result in a growth of 95.42% 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 $0.18 being high and $0.15 being low. For TTI, this leads to a yearly average estimate of $0.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TETRA Technologies Inc. surprised analysts by -$0.02 when it reported $0.02 EPS against a consensus estimate of $0.04. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is $0.05 and the low estimate is $0.02. The average estimate for the next quarter is thus $0.03.
Summary of Insider Activity:
Insiders traded TTI stock several times over the past three months with 16 Buys and 14 Sells. In these transactions, 417,576 shares were bought while 177,909 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 1,804,510 while 893,784 shares were sold.