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

Alliance Global Partners started coverage on shares of Drilling Tools International (NASDAQ:DTI) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $8.50 target price on the stock.

Drilling Tools International Price Performance

NASDAQ:DTI opened at $5.53 on Monday. The firm has a market cap of $164.62 million, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.01 and a beta of -0.93. Drilling Tools International has a 12 month low of $2.43 and a 12 month high of $6.34. The company has a quick ratio of 1.59, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $4.15.

Drilling Tools International (NASDAQ:DTI) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $36.97 million during the quarter. Drilling Tools International had a net margin of 8.21% and a return on equity of 14.88%. On average, equities analysts anticipate that Drilling Tools International will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Drilling Tools International

Institutional investors have recently modified their holdings of the stock. Gendell Jeffrey L bought a new stake in shares of Drilling Tools International during the first quarter worth approximately $35,000. Fifth Lane Capital LP raised its stake in shares of Drilling Tools International by 12.6% during the first quarter. Fifth Lane Capital LP now owns 45,000 shares of the company’s stock worth $135,000 after buying an additional 5,024 shares during the last quarter. Shaolin Capital Management LLC raised its stake in shares of Drilling Tools International by 14.0% during the first quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock worth $250,000 after buying an additional 10,204 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Drilling Tools International by 30.8% during the first quarter. Concurrent Investment Advisors LLC now owns 85,000 shares of the company’s stock worth $255,000 after buying an additional 20,000 shares during the last quarter. Finally, Solidarity Wealth LLC raised its stake in shares of Drilling Tools International by 250.0% during the fourth quarter. Solidarity Wealth LLC now owns 277,227 shares of the company’s stock worth $887,000 after buying an additional 198,020 shares during the last quarter. 2.79% of the stock is owned by institutional investors.

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.