TETRA Technologies, Inc. (NYSE:TTI) is among the top losers of the stock market today, sinking -4.19% or (-0.09 points) to $2.06 from its previous close of $2.15. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 220336 contracts so far this session. TTI shares had a relatively better volume day versus average trading capacity of 622.81 thousand shares, but with a 0.12 billion float and a 0% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TTI stock indicates that the average analyst price target is $5.19 per share. This means the stock has a potential increase of 151.94% from where the TTI share price has been trading recently which is between $2.1 and $2.18. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of TTI earnings conference call or presentation 9-May-19 2:30pm GMT” and dated May 17, 2019.
During the recent trading session for TETRA Technologies, Inc. (NYSE:TTI), the company witnessed their stock rise $0.01 over a week and tumble down $-0.38 from the price 20 days ago. When compared to their established 52-week high of $5.11, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/22/18. The recent low of $1.29 stood for a -59.65% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.61 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for TETRA Technologies, Inc., the two-week RSI stands at 38.69. This figure suggests that TTI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TTI readings is similarly very revealing as it has a stochastic reading of 36.49% at this stage. This figure means that TTI share price today is being neutral.
Technical chart claims that TETRA Technologies, Inc. (TTI) would settle between $2.19/share to $2.22/share level. However, if the stock price goes below the $2.11 mark, then the market for TETRA Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.06 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Johnson Rice lowered their recommendation on shares of TTI from Buy to Hold in their opinion released on February 19. Raymond James analysts have lowered their rating of TETRA Technologies, Inc. (NYSE:TTI) stock from Outperform to Mkt Perform in a separate flash note issued to investors on December 13. Analysts at B. Riley FBR, Inc., made their first call for the equity with a Buy recommendation, according to a research note that dated back to July 06.
TTI equity has an average rating of 2.18, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated TETRA Technologies, Inc. (NYSE:TTI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TTI stock price is currently trading at 20.09X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.26 while for the average stock in the same group, the multiple is 6.8.
TETRA Technologies, Inc. (TTI)’s current-quarter revenues are projected to climb by nearly 8.24% to hit $281500, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 14.87% from $957440 to a noteworthy $1.1 billion. At the other end of the current quarter income statement, TETRA Technologies, Inc. is expected to see its adjusted earnings surge by roughly -166.67% to hit $-0.02 per share. For the fiscal year, TTI’s earnings are projected to climb by roughly 40% to hit $-0.03 per share.