It is trading at $2.84 slightly over the 50 day moving average of $2.67 and barely above the 200 day moving average of $2.79. The 50 day moving average went up $0.17 or +6.37% whereas the 200 day moving average was up $0.05 or +1.93%. Trading was heavy with 966K shares changing hands by the end of trading on Tuesday. Volume was up 38.44% over the stocks average daily volume.
Short traders are feeling a little more bullish on Tetra Technologies, Inc. if you pay attention to the change in short interest. The firm recorded a fall in short interest from September 29, 2017 to October 13, 2017 of -2.33%. Short interest fell 131,891 over that period. With short interest at 5,536,055 and short average daily volume at 754,217, days to cover is 7.0 and the percentage of shorted shares was 0.05% on October 13.
These firms have modified their investment in TTI. As of the end of the quarter Bank Of Montreal /can/ had bought 9,171 shares growing its stake by 260.5%. The value of the total investment in Tetra Technologies, Inc. went from $10,000 to $36,000 a change of $26,000 for the reporting period. Viking Fund Management LLC cut its position by shedding 230,000 shares a decrease of 38.3%. Viking Fund Management LLC now holds 370,000 shares with a value of $1,058,000. The total value of its holdings decreased 36.8%.
Nationwide Fund Advisors divested its ownership by selling 163,502 shares a decrease of 72.6% as of 09/30/2017. Nationwide Fund Advisors currently owns 61,629 shares valued at $176,000. The value of the position overall is down by 72.0%. As of quarter end Aperio Group, LLC had acquired a total of 19,203 shares growing its holdings by 16.4%. The value in dollars increased from $326,000 to $389,000 increasing 19.3% quarter to quarter.
On September 12 the company was downgraded to “Neutral” from “Overweight” by JP Morgan.
In the latest earnings report the EPS was $-0.58 and is projected to be $-0.18 for the current year with 115,897,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $-0.05 and the next full year EPS is projected to be $-0.01.
TETRA Technologies, Inc., launched on February 06, 1981, together with its consolidated subsidiaries, is a geographically diversified oil and gas services company. The Company focuses 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..