Drilling Tools International (NASDAQ:DTI) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners began coverage on shares of Drilling Tools International (NASDAQ:DTI) in a research 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 Up 0.2 %

Shares of DTI opened at $5.53 on Monday. The firm has a market cap of $164.63 million, a P/E ratio of 12.86, a P/E/G ratio of 0.99 and a beta of -0.93. The stock has a 50 day simple moving average of $5.68 and a two-hundred day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.59. Drilling Tools International has a 1 year low of $2.43 and a 1 year high of $6.34.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share 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 company had revenue of $36.97 million during the quarter. On average, analysts forecast that Drilling Tools International will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Drilling Tools International

A number of institutional investors have recently added to or reduced their stakes in DTI. Shaolin Capital Management LLC grew its stake in shares of Drilling Tools International by 14.0% in the first quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock worth $250,000 after acquiring an additional 10,204 shares during the last quarter. Gendell Jeffrey L purchased a new stake in shares of Drilling Tools International in the first quarter worth $35,000. Concurrent Investment Advisors LLC grew its stake in shares of Drilling Tools International by 30.8% in the first quarter. Concurrent Investment Advisors LLC now owns 85,000 shares of the company’s stock worth $255,000 after acquiring an additional 20,000 shares during the last quarter. Fifth Lane Capital LP grew its stake in shares of Drilling Tools International by 12.6% in the first 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 during the last quarter. Finally, Solidarity Wealth LLC grew its stake in shares of Drilling Tools International by 250.0% in the fourth quarter. Solidarity Wealth LLC now owns 277,227 shares of the company’s stock worth $887,000 after acquiring an additional 198,020 shares during the last quarter. Institutional investors 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.