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

Drilling Tools International (NASDAQ:DTI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on DTI. Weiss Ratings downgraded shares of Drilling Tools International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Drilling Tools International Price Performance

Drilling Tools International stock opened at $3.00 on Friday. The company has a fifty day simple moving average of $3.56 and a 200-day simple moving average of $3.15. The company has a quick ratio of 1.52, a current ratio of 2.11 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $105.57 million, a price-to-earnings ratio of -27.27, a PEG ratio of 1.75 and a beta of -0.60. Drilling Tools International has a 52-week low of $1.65 and a 52-week high of $4.69.

Drilling Tools International (NASDAQ:DTI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). Drilling Tools International had a positive return on equity of 0.45% and a negative net margin of 2.35%.The firm had revenue of $37.96 million for the quarter, compared to analyst estimates of $37.80 million. On average, equities analysts anticipate that Drilling Tools International will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Drilling Tools International by 385.4% in the first quarter. Dimensional Fund Advisors LP now owns 113,109 shares of the company’s stock valued at $488,000 after buying an additional 89,806 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Drilling Tools International in the first quarter valued at about $391,000. Veradace Capital Management LLC acquired a new position in Drilling Tools International in the fourth quarter valued at about $62,000. XTX Topco Ltd lifted its position in Drilling Tools International by 52.3% in the fourth quarter. XTX Topco Ltd now owns 16,026 shares of the company’s stock valued at $39,000 after buying an additional 5,504 shares during the last quarter. Finally, Gendell Jeffrey L lifted its position in Drilling Tools International by 29.2% in the fourth quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company’s stock valued at $5,977,000 after buying an additional 552,046 shares during the last quarter. 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.