Drilling Tools International (NASDAQ:DTI) Upgraded at Zacks Research

Zacks Research upgraded shares of Drilling Tools International (NASDAQ:DTI) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Drilling Tools International in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Drilling Tools International presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Drilling Tools International Price Performance

Shares of NASDAQ:DTI opened at $2.21 on Tuesday. The firm has a market cap of $78.81 million, a price-to-earnings ratio of -17.00 and a beta of -0.37. The firm has a fifty day moving average price of $2.09 and a 200 day moving average price of $2.33. Drilling Tools International has a fifty-two week low of $1.43 and a fifty-two week high of $3.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.49 and a current ratio of 2.06.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). Drilling Tools International had a positive return on equity of 4.29% and a negative net margin of 2.81%.The company had revenue of $39.42 million during the quarter, compared to analysts’ expectations of $40.14 million. Drilling Tools International has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Drilling Tools International will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Drilling Tools International by 50.6% in the first quarter. Wellington Management Group LLP now owns 23,965 shares of the company’s stock worth $57,000 after acquiring an additional 8,054 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Drilling Tools International by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 22,526 shares of the company’s stock valued at $53,000 after purchasing an additional 6,203 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Drilling Tools International in the 1st quarter worth approximately $32,000. Nuveen LLC purchased a new position in shares of Drilling Tools International in the 1st quarter worth approximately $40,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Drilling Tools International by 187.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company’s stock valued at $204,000 after purchasing an additional 46,741 shares during the last quarter. Institutional investors 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.