Positioning no disclosures inside 60 days, left as found
Options put/call open interest 8.65, read 2026-10-23
Ethical does not pass the values gate
Price5.33 USD
Fair value8.97
Ethical score70.0/100
Our investment reviews on this name
2026-09-15Read Markdown6.93-23.1% to today ✓Distribution gives way to Markdown after a 21% slide in 4 weeks
2026-08-15Read Distribution8.74-39.0% to today ✓Accumulation gives way to Distribution after a 16% slide in 6 weeks
2026-07-02Read Accumulation10.40-48.8% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
TETRA Technologies, Inc. holds its Markdown at $5.33. Consolidating, no directional conviction, held for 42 days.
As held on the ledger · 2026-10-23
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 42 days
Price at the screen
$5.33
Valuation
152.00 trailing · 21.33 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.24
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
33.35%
Below 33%
Interest-bearing debt is 33.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
25.48%
Below 49%
Money owed to the company is 25.5% of assets, under the 49% limit.
Pass
Revenue purity
0.09%
Below 5%
Only 0.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
TETRA Technologies,'s business is in a permissible area, but its interest-bearing debt is about 33% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 68.4% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus Strong Buy. The average target sits +130% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Oilfield fluids business running on thin margins
Picture a supplier to drilling rigs that mixes special brines and handles produced water. TETRA Technologies keeps those operations moving yet posts revenue down 1 percent, a 1 percent profit margin and just 3 percent return on equity. At 24.4 times forward earnings the shares already price in better days that the recent numbers do not support.
We pass because the combination of high valuation, flat-to-down sales and weak capital returns leaves little room for error. The 14 percent margin of safety to our fair value does not change the fact that the business generates too little profit to justify the multiple. Analyst targets sit higher, but those forecasts rest on an energy cycle that can turn quickly.
The main risks are exposure to oilfield spending swings and limited pricing power in a competitive segment. Currency moves and contract timing add further volatility. Ethical screen cleared, yet the financial profile still fails to clear our bar.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TTI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markdown$5.33+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$5.33+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markdown$5.33+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$5.33-12.8%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 12.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
2026-10-14Markdown$6.11+0.5%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 26% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
2026-10-02Markdown$6.08-12.3%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 12.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 26% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
2026-09-15Markdown · changed$6.93-20.7%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 20.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 26% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 16.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 26% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
2026-07-18Accumulation$10.40+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 26% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 227%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (4 analysts) rates it none, with a mean price target of $12.
2026-07-03Accumulation$10.40+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
