Tetra Technologies (NYSE:TTI) has tumbled 13.85% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 11.42% in the last four weeks. The stocks have underperformed the S&P 500 by 12.82% during the past week but Tetra Technologies (NYSE:TTI) it has outperformed the index in 4 weeks by 10.4%.
Tetra Technologies (NYSE:TTI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.54 and $5.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.66, notching a gain of 2.72% for the day. The total traded volume was 2,996,771 . The stock had closed at $5.51 on the previous day.
The company shares have dropped -8.27% from its 1 Year high price. On Dec 1, 2015, the shares registered one year high at $9.44 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $5.87 and the 200 Day Moving Average price is recorded at $6.38.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Meyer Joseph J, officer (VP Treasury) of Tetra Technologies Inc, had unloaded 11,246 shares at an average price of $5.43 in a transaction dated on May 31, 2016. The total value of the transaction was worth $61,066.
Many analysts have stated their opinion on the company shares. Credit Suisse upgrades its rating on Tetra Technologies (NYSE:TTI). The global brokerage major raises the current price target from $6.5 per share to $9 per share. Analysts at the Credit Suisse have a current rating of Outperform on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 1, 2016. Currently the company Insiders own 4.45% of Tetra Technologies shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -65.34% . Institutional Investors own 90.79% of Tetra Technologies shares. During last six month period, the net percent change held by insiders has seen a change of -65.34%.
TETRA Technologies, Inc. is an oil and gas services company. The Company is focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services, including well plugging and abandonment, decommissioning and diving. The Company has a limited domestic oil and gas production business. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore. The Companys Fluids division manufactures and markets clear brine fluids, additives, and associated products and services. The Production Testing division provides frac flowback, production well testing, offshore rig cooling and other associated services. The Compression division is a provider of compression services and equipment. The Offshore division provides downhole and subsea services, decommissioning and certain construction services.