Drilling Tools International Co. (NASDAQ:DTI) Short Interest Update

Drilling Tools International Co. (NASDAQ:DTI) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 270,500 shares, an increase of 7.5% from the September 15th total of 251,700 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 46,500 shares, the short-interest ratio is currently 5.8 days.

Analyst Ratings Changes

Separately, Alliance Global Partners dropped their price objective on shares of Drilling Tools International from $8.50 to $7.50 and set a “buy” rating for the company in a report on Wednesday, August 7th.

Hedge Funds Weigh In On Drilling Tools International

Several institutional investors have recently modified their holdings of the business. Fifth Lane Capital LP raised its stake in 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 acquiring an additional 5,024 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Drilling Tools International in the 2nd quarter valued at about $49,000. Shaolin Capital Management LLC grew its stake in Drilling Tools International by 14.0% during the 1st quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock worth $250,000 after buying an additional 10,204 shares during the last quarter. Gendell Jeffrey L purchased a new position in shares of Drilling Tools International during the first quarter worth approximately $35,000. Finally, Woodstock Corp purchased a new stake in Drilling Tools International in the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Drilling Tools International Trading Down 3.1 %

NASDAQ DTI traded down $0.11 during trading hours on Thursday, reaching $3.46. The company had a trading volume of 66,917 shares, compared to its average volume of 48,527. Drilling Tools International has a 1-year low of $2.43 and a 1-year high of $6.36. The stock has a 50-day moving average of $3.90 and a 200 day moving average of $4.86. The stock has a market capitalization of $103.00 million, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.99 and a beta of -0.99. The company has a current ratio of 1.97, a quick ratio of 1.50 and a debt-to-equity ratio of 0.21.

Drilling Tools International (NASDAQ:DTI) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $37.53 million for the quarter, compared to analysts’ expectations of $42.72 million. Drilling Tools International had a net margin of 7.85% and a return on equity of 16.64%. As a group, research analysts anticipate that Drilling Tools International will post 0.37 earnings per share for the current fiscal year.

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.