Tetra Technologies, Inc. [NYSE: TTI] stock went on an upward path that rose over 5.97% on Wednesday, amounting to a one-week price increase of more than 6.25%. The company report on February 27, 2024 at 5:00 PM that TETRA TECHNOLOGIES, INC. ANNOUNCES FOURTH QUARTER AND TOTAL YEAR 2023 RESULTS.
Fourth quarter revenue of $153.1 million increased 4% year-over-year.
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Fourth quarter net loss before discontinued operations was $4.2 million and net loss per share was $0.03. Adjusted net income from continuing operations was $3.8 million, an improvement of 51% year-over-year. Adjusted net income per share was $0.03. Total year 2023 income from continuing operations was $25.5 million, a 235% increase versus 2022.
Over the last 12 months, TTI stock rose by 3.55%. The one-year Tetra Technologies, Inc. stock forecast points to a potential upside of 45.6. The average equity rating for TTI stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $530.73 million, with 128.66 million shares outstanding and 117.67 million shares in the current float. Compared to the average trading volume of 1.32M shares, TTI stock reached a trading volume of 5398937 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Tetra Technologies, Inc. [TTI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TTI shares is $7.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TTI stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Tetra Technologies, Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 28, 2023. The new note on the price target was released on June 24, 2022, representing the official price target for Tetra Technologies, Inc. stock. Previously, the target price had yet another raise to $3, while Stifel analysts kept a Buy rating on TTI stock.
The Average True Range (ATR) for Tetra Technologies, Inc. is set at 0.20, with the Price to Sales ratio for TTI stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 3.73, with the Price to Cash per share for the same quarter was set at 0.26. Price to Free Cash Flow for TTI in the course of the last twelve months was 78.98 with Quick ratio for the last quarter at 1.41.
TTI Stock Performance Analysis:
Tetra Technologies, Inc. [TTI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.25. With this latest performance, TTI shares dropped by -10.33% in over the last four-week period, additionally sinking by -23.16% over the last 6 months – not to mention a rise of 3.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TTI stock in for the last two-week period is set at 52.20, with the RSI for the last a single of trading hit 58.70, and the three-weeks RSI is set at 48.81 for Tetra Technologies, Inc. [TTI]. The present Moving Average for the last 50 days of trading for this stock 4.22, while it was recorded at 3.88 for the last single week of trading, and 4.52 for the last 200 days.
Insight into Tetra Technologies, Inc. Fundamentals:
Tetra Technologies, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 2.14.
TTI Stock EPS
With the latest financial reports released by the company, Tetra Technologies, Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TTI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tetra Technologies, Inc. go to 29.00%.
Tetra Technologies, Inc. [TTI] Institutonal Ownership Details
The top three institutional holders of TTI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TTI stock with ownership which is approximately 5.8325%.
