Alliance Global Partners Cuts Drilling Tools International (NASDAQ:DTI) Price Target to $5.50

Drilling Tools International (NASDAQ:DTI) had its price objective decreased by Alliance Global Partners from $7.50 to $5.50 in a report issued on Friday morning,Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

Drilling Tools International Stock Performance

Shares of Drilling Tools International stock opened at $3.48 on Friday. The stock has a market capitalization of $120.79 million, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.05 and a beta of -0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.97 and a quick ratio of 1.50. The business has a 50-day moving average of $3.60 and a 200 day moving average of $4.64. Drilling Tools International has a 12 month low of $2.43 and a 12 month high of $6.36.

Institutional Investors Weigh In On Drilling Tools International

Several large investors have recently added to or reduced their stakes in DTI. Rhumbline Advisers acquired a new position in shares of Drilling Tools International in the second quarter worth $49,000. Gendell Jeffrey L purchased a new stake in Drilling Tools International during the 1st quarter worth about $35,000. Woodstock Corp acquired a new stake in Drilling Tools International in the 3rd quarter valued at about $57,000. Barclays PLC boosted its stake in shares of Drilling Tools International by 414.6% in the 3rd quarter. Barclays PLC now owns 16,730 shares of the company’s stock valued at $62,000 after buying an additional 13,479 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Drilling Tools International during the second quarter worth about $99,000. 2.79% of the stock is owned by hedge funds and other institutional investors.

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.