JPMorgan Chase & Co. Grows Holdings in Drilling Tools International Co. (NASDAQ:DTI)

JPMorgan Chase & Co. lifted its holdings in shares of Drilling Tools International Co. (NASDAQ:DTI) by 189.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,241 shares of the company’s stock after buying an additional 13,249 shares during the quarter. JPMorgan Chase & Co.’s holdings in Drilling Tools International were worth $75,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Drilling Tools International by 28.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 28,283 shares of the company’s stock worth $105,000 after buying an additional 6,201 shares during the period. Geode Capital Management LLC grew its stake in shares of Drilling Tools International by 31.5% in the 3rd quarter. Geode Capital Management LLC now owns 209,808 shares of the company’s stock valued at $783,000 after purchasing an additional 50,236 shares during the last quarter. Barclays PLC increased its stake in 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, Woodstock Corp acquired a new position in Drilling Tools International in the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Drilling Tools International Price Performance

Shares of NASDAQ:DTI opened at $3.06 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.15. Drilling Tools International Co. has a 52 week low of $2.43 and a 52 week high of $6.36. The company has a market cap of $108.91 million, a P/E ratio of 10.93, a PEG ratio of 0.89 and a beta of -0.86. The company has a 50-day moving average price of $3.37 and a 200 day moving average price of $3.74.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners dropped their price objective on shares of Drilling Tools International from $7.50 to $5.50 and set a “buy” rating on the stock in a research note on Friday, November 15th.

Drilling Tools International 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.