Drilling Tools International (NASDAQ:DTI) Raised to “Hold” at Wall Street Zen

Drilling Tools International (NASDAQ:DTI) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued reports about the company. Zacks Research upgraded Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Drilling Tools International in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Drilling Tools International Stock Performance

NASDAQ:DTI opened at $3.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.04 and a quick ratio of 1.47. The firm has a market cap of $121.79 million, a price-to-earnings ratio of -18.21, a price-to-earnings-growth ratio of 2.56 and a beta of -0.38. The firm’s fifty day moving average price is $2.66 and its 200 day moving average price is $2.35. Drilling Tools International has a 1-year low of $1.43 and a 1-year high of $3.82.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Drilling Tools International had a negative net margin of 3.93% and a positive return on equity of 1.12%. The company had revenue of $38.82 million during the quarter, compared to the consensus estimate of $36.18 million. On average, sell-side analysts expect that Drilling Tools International will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DTI. Sanders Morris Harris LLC purchased a new stake in shares of Drilling Tools International in the 3rd quarter worth about $34,000. Qube Research & Technologies Ltd acquired a new position in Drilling Tools International during the second quarter worth about $49,000. Citadel Advisors LLC purchased a new stake in shares of Drilling Tools International in the third quarter valued at about $55,000. Bridgeway Capital Management LLC grew its position in shares of Drilling Tools International by 187.0% in the second quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company’s stock valued at $204,000 after purchasing an additional 46,741 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Drilling Tools International during the 2nd quarter worth approximately $139,000. 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.