12 Best Penny Stocks to Invest in According to the Media

5. Tetra Technologies, Inc. (NYSE:TTI)

Share Price (As of January 3): $3.83

Number of Hedge Fund Holders: 24

Tetra Technologies, Inc. (NYSE:TTI) is an energy services and solutions company with a focus on bromine-based completion fluids, calcium chloride, water management solutions, frac flowback, and production well-testing services. The company operates through two segments including the Completion Fluids & Products Division and the Water & Flowback Services Division. Both of the segments equally add to the company’s revenue.

The Completion Fluids & Products Division manufactures clear brine fluids, and other associated products and sells them to oil and gas companies in the US, the Middle East, Africa, and certain countries in Latin America. Recently, Tetra Technologies achieved a major Deepwater Completion Fluid Award in Brazil, solidifying its position as a leader in the region’s deepwater heavy fluids market.

Tetra Technologies, Inc.’s (NYSE:TTI) revenue is down from last year as it posted $142 million in Q3, a decline of 6% year-over-year. Amidst the challenging period, the company’s completion fluids and products and water and flowback services achieved adjusted EBITDA margins of 31.7% and 14.6%, respectively. The improvements in EBITDA margins reflect strong operational efficiency. During Q3, the company set a record for produced water recycling for frac reuse, indicating the company’s ability in the industry and its commitment to sustainable practices.

The company is advancing its strategic initiatives by introducing Tetra X and TETRA Oasis TDS. Textra X is a new corrosion inhibitor for high-temperature downhole well environments, while Oasis TDS serves the oil and gas industry by helping mineral extraction. Tetra Technologies, Inc. (NYSE:TTI) continues to boost its portfolio backed by total cash of $48.26 million.