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TETRA Technologies Inc. (NYSE: TTI) Stock Forecast: $8.00 Per Share In 2022 With Positive Signs

In today’s recent session, 0.71 million shares of the TETRA Technologies Inc. (NYSE:TTI) have been traded, and its beta is 2.73. Most recently the company’s share price was $3.66, and it changed around -$0.25 or -6.42% from the last close, which brings the market valuation of the company to $500.44M. TTI at last check was trading at a discount to its 52-week high of $5.82, offering almost -59.02% off that amount. The share price’s 52-week low was $2.32, which indicates that the recent value has risen by an impressive 36.61% since then. We note from TETRA Technologies Inc.’s average daily trading volume that its 10-day average is 1.4 million shares, with the 3-month average coming to 1.46 million.

TETRA Technologies Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended TTI as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. TETRA Technologies Inc. is expected to report earnings per share of $0.05 for the current quarter.

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TETRA Technologies Inc. (NYSE:TTI) trade information

Instantly TTI has been showing red trend so far today with a performance of -6.42% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.49 on Tuesday, 08/02/22 increased the stock’s daily price by 18.49%. The company’s shares are currently up 37.68% year-to-date, but still down -4.87% over the last five days. On the other hand, TETRA Technologies Inc. (NYSE:TTI) is -2.74% down in the 30-day period. We can see from the shorts that 2.14 million shares have been sold at a short interest cover period of 1.48 day(s).

The consensus price target as assigned by Wall Street analysts is $6.50, which translates to bulls needing to increase their stock price by 43.69% from its current value. Analyst projections state that TTI is forecast to be at a low of $5.00 and a high of $8.00. In order for the stock price to hit the forecast high, the stock would need to plunge -118.58% from its current level, while the stock would need to crash -36.61% from its current level to reach the projected low.

TETRA Technologies Inc. (TTI) estimates and forecasts

TETRA Technologies Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 33.45 percent over the past six months and at a 600.00% annual growth rate that is well above the industry average of 15.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 350.00% in revenue this quarter, and will report an increase of 400.00% in the next quarter. The year-over-year growth rate is expected to be 36.40%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $134.7 million in revenue for the current quarter. 4 analysts expect TETRA Technologies Inc. to make $130.42 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $102.33 million and $105.2 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 31.60%. Forecasts for the next quarter put sales growth at 24.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 39.70%. TETRA Technologies Inc. earnings are expected to increase by -181.00% in 2022, but the outlook is positive 29.00% per year for the next five years.

TTI Dividends

TETRA Technologies Inc.’s next quarterly earnings report is expected to be released around November 01 and November 05.

TETRA Technologies Inc. (NYSE:TTI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 10.06% of TETRA Technologies Inc. shares, and 58.38% of them are in the hands of institutional investors. The stock currently has a share float of 64.91%. TETRA Technologies Inc. stock is held by 181 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 7.48% of the shares, which is about 9.55 million shares worth $39.25 million.

Fuller & Thaler Asset Management Inc., with 5.99% or 7.65 million shares worth $31.43 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

Undiscovered Managers Behavioral Value Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2022. The former held 6.25 million shares worth $25.7 million, making up 4.90% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.41 million shares worth around $14.0 million, which represents about 2.67% of the total shares outstanding.

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