Walleye Capital LLC purchased a new position in shares of Drilling Tools International Corp. (NASDAQ:DTI – Free Report) in the 1st quarter, Holdings Channel reports. The firm purchased 287,099 shares of the company’s stock, valued at approximately $1,243,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DTI. Gendell Jeffrey L lifted its position in shares of Drilling Tools International by 29.2% in the fourth quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company’s stock worth $5,977,000 after purchasing an additional 552,046 shares in the last quarter. Cresset Asset Management LLC grew its position in Drilling Tools International by 184.5% in the third quarter. Cresset Asset Management LLC now owns 200,521 shares of the company’s stock valued at $461,000 after purchasing an additional 130,032 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Drilling Tools International in the first quarter valued at $391,000. Dimensional Fund Advisors LP grew its position in Drilling Tools International by 385.4% in the first quarter. Dimensional Fund Advisors LP now owns 113,109 shares of the company’s stock valued at $488,000 after purchasing an additional 89,806 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Drilling Tools International in the 4th quarter valued at $190,000. 2.79% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on DTI. Weiss Ratings cut shares of Drilling Tools International from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Zacks Research upgraded Drilling Tools International from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Finally, Wall Street Zen downgraded Drilling Tools International from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Drilling Tools International has an average rating of “Reduce”.
Drilling Tools International Stock Performance
NASDAQ DTI opened at $2.27 on Friday. Drilling Tools International Corp. has a 12 month low of $1.65 and a 12 month high of $4.69. The company has a current ratio of 2.15, a quick ratio of 1.57 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average of $2.46 and a 200-day moving average of $3.16. The company has a market cap of $79.77 million, a PE ratio of -20.64, a PEG ratio of 2.80 and a beta of -0.60.
Drilling Tools International (NASDAQ:DTI – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Drilling Tools International had a positive return on equity of 0.45% and a negative net margin of 2.35%.The firm had revenue of $37.96 million for the quarter, compared to analyst estimates of $37.80 million. On average, equities research analysts anticipate that Drilling Tools International Corp. will post 0.09 EPS for the current fiscal year.
Drilling Tools International Profile
Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.
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