Shaolin Capital Management LLC Has $186,000 Stake in Drilling Tools International Co. (NASDAQ:DTI)

Shaolin Capital Management LLC reduced its position in Drilling Tools International Co. (NASDAQ:DTI) by 60.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,014 shares of the company’s stock after selling 50,203 shares during the quarter. Shaolin Capital Management LLC owned approximately 0.11% of Drilling Tools International worth $186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DTI. Gendell Jeffrey L acquired a new stake in Drilling Tools International in the 1st quarter valued at $35,000. Rhumbline Advisers acquired a new position in Drilling Tools International in the second quarter valued at about $49,000. Bank of New York Mellon Corp acquired a new stake in shares of Drilling Tools International during the second quarter worth approximately $99,000. Fifth Lane Capital LP raised 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 valued at $135,000 after acquiring an additional 5,024 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Drilling Tools International by 30.8% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 2.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reduced their price objective on Drilling Tools International from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Drilling Tools International Price Performance

DTI opened at $3.78 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.97 and a quick ratio of 1.50. The company’s 50 day simple moving average is $4.33 and its 200-day simple moving average is $4.78. Drilling Tools International Co. has a one year low of $2.43 and a one year high of $6.36. The stock has a market capitalization of $112.53 million, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 1.16 and a beta of -0.98.

Drilling Tools International (NASDAQ:DTI) last released its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $37.53 million for the quarter, compared to the consensus estimate of $42.72 million. Drilling Tools International had a return on equity of 16.64% and a net margin of 7.85%. Sell-side analysts anticipate that Drilling Tools International Co. will post 0.37 earnings per share for the current fiscal year.

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.