Drilling Tools International (NASDAQ:DTI) Coverage Initiated by Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Drilling Tools International (NASDAQ:DTI) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $8.50 price objective on the stock.

Drilling Tools International Trading Up 0.4 %

Shares of DTI stock opened at $5.64 on Monday. The firm has a 50-day moving average price of $5.67 and a 200 day moving average price of $4.12. Drilling Tools International has a twelve month low of $2.43 and a twelve month high of $6.34. The company has a market capitalization of $167.90 million, a price-to-earnings ratio of 13.12, a PEG ratio of 1.01 and a beta of -0.93. The company has a current ratio of 1.92, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22.

Drilling Tools International (NASDAQ:DTI) last announced its earnings results 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 firm had revenue of $36.97 million during the quarter. Research analysts forecast that Drilling Tools International will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DTI. Solidarity Wealth LLC increased its stake in shares of Drilling Tools International by 250.0% during the 4th quarter. Solidarity Wealth LLC now owns 277,227 shares of the company’s stock valued at $887,000 after acquiring an additional 198,020 shares during the last quarter. Shaolin Capital Management LLC grew its holdings in shares of Drilling Tools International by 188.2% during the 3rd quarter. Shaolin Capital Management LLC now owns 75,000 shares of the company’s stock worth $293,000 after purchasing an additional 159,998 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Drilling Tools International by 30.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 85,000 shares of the company’s stock worth $255,000 after purchasing an additional 20,000 shares during the period. Gendell Jeffrey L purchased a new stake in shares of Drilling Tools International during the 1st quarter worth about $35,000. Finally, Fifth Lane Capital LP grew its holdings in shares of 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 purchasing an additional 5,024 shares during the period. Institutional investors and hedge funds own 2.79% of the company’s stock.

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.