Tetra Technologies, Inc. (NYSE: TTI) Is Under Pressure Due To Weak Fundamental Momentum.

In the last trading session, 1.1 million Tetra Technologies, Inc. (NYSE:TTI) shares changed hands as the company’s beta touched 2.41. With the company’s per share price at $4.71 changed hands at -$0.03 or -0.63% during last session, the market valuation stood at $612.68M. TTI’s last price was a discount, traded about -43.74% off its 52-week high of $6.77. The share price had its 52-week low at $2.43, which suggests the last value was 48.41% up since then. When we look at Tetra Technologies, Inc.’s average trading volume, we note the 10-day average is 2.22 million shares, with the 3-month average coming to 1.96 million.

Analysts gave the Tetra Technologies, Inc. (TTI) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended TTI as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Tetra Technologies, Inc.’s EPS for the current quarter is expected to be $0.09.

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Tetra Technologies, Inc. (NYSE:TTI) trade information

Instantly TTI was in red as seen at the end of in last trading. With action -2.28%, the performance over the past five days has been red. The drop to weekly highs of 4.91 on Monday, 11/20/23 subtracted -0.63% to the stock’s daily price. The company’s shares are showing year-to-date upside of 36.13%, with the 5-day performance at -2.28% in the red. However, in the 30-day time frame, Tetra Technologies, Inc. (NYSE:TTI) is -23.79% down. Looking at the short shares, we see there were 3.81 million shares sold at short interest cover period of 2.15 days.

The consensus price target for the stock as assigned by Wall Street analysts is $7.80, meaning bulls need an upside of 39.62% from its current market value. According to analyst projections, TTI’s forecast low is $7.00 with $9.00 as the target high. To hit the forecast high, the stock’s price needs a -91.08% plunge from its current level, while the stock would need to soar -48.62% for it to hit the projected low.

Tetra Technologies, Inc. (TTI) estimates and forecasts

Data shows that the Tetra Technologies, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 61.86% over the past 6 months, a 86.67% in annual growth rate that is considerably higher than the industry average of 19.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Tetra Technologies, Inc. will rise 350.00%, while the growth in revenue is estimated to hit 200.00% for the next quarter. Year-over-year growth is forecast to reach 13.60% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $154.17 million. 3 analysts are of the opinion that Tetra Technologies, Inc.’s revenue for the quarter ending Mar 2024 will be $159.63 million. The company’s revenue for the corresponding quarters a year ago was $147.45 million and $146.21 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.60%. The estimates for the next quarter sales put growth at 9.20%.

The 2023 estimates are for Tetra Technologies, Inc. earnings to increase by 125.55%, but the outlook for the next 5-year period is at 29.00% per year.

TTI Dividends

Tetra Technologies, Inc. is expected to release its next quarterly earnings report on October 31.

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

If we look at who the major shareholders are, we find that insiders hold 9.22% of Tetra Technologies, Inc. shares while 64.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.57%. There are 64.97% institutions holding the Tetra Technologies, Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 7.83% of the shares, roughly 10.14 million TTI shares worth $34.28 million.

Fuller & Thaler Asset Management Inc. holds the second largest percentage of outstanding shares, with 5.91% or 7.65 million shares worth $25.86 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Undiscovered Managers Behavioral Value Fund and Vanguard Total Stock Market Index Fund. With 6.27 million shares estimated at $21.2 million under it, the former controlled 4.84% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.70% of the shares, roughly 3.49 million shares worth around $11.81 million.

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