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

Drilling Tools International Co. (NASDAQ:DTI) saw a significant 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 company are short sold. Based on an average daily trading volume, of 46,500 shares, the days-to-cover ratio is currently 5.8 days.

Hedge Funds Weigh In On Drilling Tools International

Large investors have recently bought and sold shares of the company. Gendell Jeffrey L acquired a new position in Drilling Tools International during the 1st quarter worth approximately $35,000. Rhumbline Advisers purchased a new stake in shares of Drilling Tools International in the second quarter valued at approximately $49,000. Woodstock Corp acquired a new position in Drilling Tools International during the third quarter worth $57,000. Bank of New York Mellon Corp purchased a new position in Drilling Tools International in the second quarter worth $99,000. Finally, Fifth Lane Capital LP lifted its holdings in Drilling Tools International by 12.6% in the first quarter. Fifth Lane Capital LP now owns 45,000 shares of the company’s stock valued at $135,000 after acquiring an additional 5,024 shares during the period. Hedge funds and other institutional investors own 2.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Drilling Tools International Stock Down 3.1 %

DTI opened at $3.46 on Friday. Drilling Tools International has a 52 week low of $2.43 and a 52 week high of $6.36. The business has a 50 day moving average price of $3.88 and a two-hundred day moving average price of $4.85. The company has a quick ratio of 1.50, a current ratio of 1.97 and a debt-to-equity ratio of 0.21. The company has a market cap of $120.10 million, a PE ratio of 8.87, a P/E/G ratio of 1.10 and a beta of -0.99.

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

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.