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

TETRA Technologies Inc. (NYSE: TTI) stock fell -0.31% on Friday to $6.43 against a previous-day closing price of $6.45. With 3.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.76 million shares. The 52-week range on TTI shows that it touched its highest point at $6.54 and its lowest point at $2.43 during that stretch. It currently has a 1-year price target of $7.50. Beta for the stock currently stands at 2.60.

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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 up-trending over the past week, with a rise of 10.67%, but this was up by 23.42% over a month. Three-month performance surged to 120.21% while six-month performance rose 140.82%. The stock gained 44.17% in the past year, while it has gained 85.84% so far this year. A look at the trailing 12-month EPS for TTI yields 0.17 with Next year EPS estimates of 0.45. For the next quarter, that number is 0.08. This implies an EPS growth rate of 143.70% for this year and 34.02% 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 -27.00%.

Float and Shares Shorts:

At present, 129.46 million TTI shares are outstanding with a float of 117.63 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.8 million, which was 2.16% higher than short shares on Jul 30, 2023. 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 64.97% of TTI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.26% of TTI, in contrast to 34.70% held by mutual funds. Shares owned by individuals account for 28.04%. As the largest shareholder in TTI with 5.91% of the stake, Fuller & Thaler Asset Management, holds 7,651,219 shares worth 7,651,219. A second-largest stockholder of TTI, BlackRock Fund Advisors, holds 7,528,242 shares, controlling over 5.81% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TTI, holding 6,081,763 shares or 4.69% stake. With a 4.77% stake in TTI, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 6,179,183 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.70% of TTI stock, is the second-largest Mutual Fund holder. It holds 3,494,648 shares valued at 19.19 million. iShares Russell 2000 ETF holds 2.19% of the stake in TTI, owning 2,842,297 shares worth 15.6 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, TTI reported revenue of $140.72M and operating income of $3.85M. The EBITDA in the recently reported quarter was $12.64M and diluted EPS was $0.01.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTI since 0 analysts follow the stock currently. 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 $7.00, the average target price over the next 12 months is $7.50. Based on these targets, TTI could surge 24.42% to reach the target high and rise by 8.86% to reach the target low. Reaching the average price target will result in a growth of 16.64% 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.

Summary of Insider Activity:

Insiders traded TTI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 977,335 while 258,407 shares were sold.

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