Drilling Tools International (NASDAQ:DTI) Research Coverage Started at Alliance Global Partners

Alliance Global Partners began coverage on shares of Drilling Tools International (NASDAQ:DTI) in a report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $8.50 price target on the stock.

Drilling Tools International Stock Performance

Drilling Tools International stock opened at $5.53 on Monday. The business has a 50 day moving average of $5.67 and a 200-day moving average of $4.15. Drilling Tools International has a 1 year low of $2.43 and a 1 year high of $6.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.59. The company has a market capitalization of $164.62 million, a P/E ratio of 12.86, a P/E/G ratio of 1.01 and a beta of -0.93.

Drilling Tools International (NASDAQ:DTI) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Drilling Tools International had a net margin of 8.21% and a return on equity of 14.88%. The firm had revenue of $36.97 million during the quarter. On average, equities research analysts predict that Drilling Tools International will post 0.62 earnings per share for the current year.

Institutional Trading of Drilling Tools International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Solidarity Wealth LLC increased its position in Drilling Tools International by 250.0% during the 4th quarter. Solidarity Wealth LLC now owns 277,227 shares of the company’s stock valued at $887,000 after purchasing an additional 198,020 shares during the period. Shaolin Capital Management LLC boosted its holdings in shares of Drilling Tools International by 188.2% during the 3rd quarter. Shaolin Capital Management LLC now owns 75,000 shares of the company’s stock worth $293,000 after buying an additional 159,998 shares in the last quarter. Gendell Jeffrey L bought a new position in shares of Drilling Tools International during the 1st quarter worth approximately $35,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Drilling Tools International by 30.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 85,000 shares of the company’s stock worth $255,000 after buying an additional 20,000 shares in the last quarter. Finally, Fifth Lane Capital LP boosted its holdings in shares of Drilling Tools International by 12.6% during the 1st quarter. Fifth Lane Capital LP now owns 45,000 shares of the company’s stock worth $135,000 after buying an additional 5,024 shares in the last quarter. Institutional investors and hedge funds own 2.79% of the company’s stock.

Drilling Tools International Company 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.