Drilling Tools International (NASDAQ:DTI – Get Free Report) posted its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, FiscalAI reports. The business had revenue of $38.07 million during the quarter, compared to the consensus estimate of $38.72 million. Drilling Tools International had a negative net margin of 2.35% and a positive return on equity of 0.45%.
Drilling Tools International Trading Up 1.7%
Shares of DTI traded up $0.04 during midday trading on Thursday, hitting $2.35. The stock had a trading volume of 367,038 shares, compared to its average volume of 215,939. The firm has a market cap of $82.58 million, a PE ratio of -21.36, a price-to-earnings-growth ratio of 2.85 and a beta of -0.63. Drilling Tools International has a 1 year low of $1.65 and a 1 year high of $4.69. The stock’s 50 day moving average is $2.33 and its 200 day moving average is $3.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.15 and a quick ratio of 1.57.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of DTI. XTX Topco Ltd increased its holdings in Drilling Tools International by 52.3% during the 4th quarter. XTX Topco Ltd now owns 16,026 shares of the company’s stock worth $39,000 after purchasing an additional 5,504 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Drilling Tools International during the second quarter worth about $49,000. Citadel Advisors LLC purchased a new stake in shares of Drilling Tools International during the third quarter worth about $55,000. Veradace Capital Management LLC acquired a new position in shares of Drilling Tools International during the fourth quarter valued at about $62,000. Finally, Jane Street Group LLC acquired a new position in shares of Drilling Tools International during the fourth quarter valued at about $69,000. Hedge funds and other institutional investors own 2.79% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Report on Drilling Tools International
About Drilling Tools International
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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