Tetra Technologies Inc. (NYSE:TTI) finished Friday with a subtraction of -$0.13 to close at $6.38, a downside of -2.00 percent. An average of 2,318,440 shares of common stock have been traded in the last five days. There was a gain of $0.21 in the past week, and it reached a new high 24 times over the past 12 months. The last 20 days have seen an average of 2,283,770 shares traded, while the 50-day average volume stands at 1,998,712.
TTI stock has increased by 14.95% in the last month. The company shares reached their 1-month lowest point of $5.43 on 08/31/23. With the stock rallying to its 52-week high on 09/28/23, shares of the company touched a low of $2.43 and a high of $6.64 in 52 weeks. It has reached a new high 32 times so far this year and achieved 84.39% or $2.92 in price. In spite of this, the price is down -3.92% from the 52-week high.
Valuation Metrics
Tetra Technologies Inc. (TTI) has a trailing price-to-earnings (P/E) ratio of 38.09. The stock’s beta is 2.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.37, the price-to-book (PB) ratio at 5.98.
Financial Health
The quick ratio of Tetra Technologies Inc. for the three months ended June 29 was 1.42, and the current ratio was 2.07, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.35 and a total debt to equity ratio of 1.43 for the quarter ending June 29. Its gross profit as reported stood at $121.11 million compared to revenue of $553.21 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Tetra Technologies Inc.’s return on assets was 5.05%.
Earnings Surprise
For the three-month period that ended June 29, Tetra Technologies Inc. had $160.51 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $6.04 million in the quarter, while revenues of -$1.9 million were shrunk -27.81%. The analyst consensus anticipated Tetra Technologies Inc.’s latest quarter earnings to come in at $0.09 per share, but it turned out to be $0.13, a 44.40% surprise. For the quarter, EBITDA amounted to $29.94 million. Shareholders own equity worth $129.56 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Tetra Technologies Inc. (TTI) price momentum. RSI 9-day as of the close on 29 September was 61.89%, suggesting the stock is Neutral, with historical volatility in this time frame at 37.60%.
As of today, TTI’s price is $6.27 +3.40% or $0.21 from its 5-day moving average. TTI is currently trading +16.21% higher than its 20-day SMA and +115.54% higher than its 100-day SMA. However, the stock’s current price level is +52.27% above the SMA50 and +80.74% above the SMA200.
The stochastic %K and %D were 68.46% and 62.82%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 65.79% and the average true range at 0.26, the RSI (14) stands at 63.40%. The stock has reached 0.16 on the 9-day MACD Oscillator while the 14-day reading was at 0.10.
Analyst Ratings
The Benchmark Company launched coverage on Tetra Technologies Inc. (NYSE: TTI) in its analyst report released on September 28, 2023. The firm assigned the stock a Buy rating. The consensus rating for Tetra Technologies Inc. (TTI) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TTI, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.
What is TTI’s price target for the next 12 months?
Analysts predict a range of price targets between $7.00 and $8.00, with a median target of $8.00. Taking a look at these predictions, the average price target given by analysts for Tetra Technologies Inc. (TTI) stock is $7.60.
