Tetra Technologies, Inc. (NYSE: TTI) stock fell -0.63% on Monday to $4.71 against a previous-day closing price of $4.74. With 1.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.96 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $4.8300 whereas the lowest price it dropped to was $4.6900. The 52-week range on TTI shows that it touched its highest point at $6.77 and its lowest point at $2.43 during that stretch. It currently has a 1-year price target of $7.80. Beta for the stock currently stands at 2.41.
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 -2.28%, but this was down by -23.79% over a month. Three-month performance dropped to -10.63% while six-month performance rose 61.86%. The stock gained 24.93% in the past year, while it has gained 36.13% so far this year. A look at the trailing 12-month EPS for TTI yields 0.21 with Next year EPS estimates of 0.45. For the next quarter, that number is 0.07. This implies an EPS growth rate of 125.55% for this year and 37.58% for next year.
Float and Shares Shorts:
At present, 128.66 million TTI shares are outstanding with a float of 117.64 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.81 million, which was 2.93% higher than short shares on Sep 28, 2023. In addition to Mr. Brady M. Murphy as the firm’s President, CEO & Director, Mr. Elijio V. Serrano serves as its Senior VP & CFO.
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 40.72% held by mutual funds. Shares owned by individuals account for 29.98%. As the largest shareholder in TTI with 6.07% of the stake, BlackRock Fund Advisors holds 7,860,586 shares worth 7,860,586. A second-largest stockholder of TTI, Fuller & Thaler Asset Management,, holds 7,529,815 shares, controlling over 5.81% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TTI, holding 6,182,768 shares or 4.77% stake. With a 4.75% stake in TTI, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 6,156,283 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.80% of TTI stock, is the second-largest Mutual Fund holder. It holds 3,630,548 shares valued at 17.21 million. iShares Russell 2000 ETF holds 2.24% of the stake in TTI, owning 2,905,816 shares worth 13.77 million.
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 $9.00 and a low target of $7.00, the average target price over the next 12 months is $7.80. Based on these targets, TTI could surge 91.08% to reach the target high and rise by 48.62% to reach the target low. Reaching the average price target will result in a growth of 65.61% from current levels.
Summary of Insider Activity:
Insiders traded TTI stock several times over the past three months with 14 Buys and 14 Sells. In these transactions, 377,350 shares were bought while 159,508 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 1,344,685 while 417,915 shares were sold.