Drilling Tools International Co. (NASDAQ:DTI) Short Interest Up 28.6% in May

Drilling Tools International Co. (NASDAQ:DTIGet Free Report) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 461,900 shares, a growth of 28.6% from the May 15th total of 359,300 shares. Approximately 9.1% of the shares of the stock are sold short. Based on an average trading volume of 56,100 shares, the short-interest ratio is presently 8.2 days.

Institutional Trading of Drilling Tools International

Institutional investors have recently made changes to their positions in the company. Shaolin Capital Management LLC lifted its stake in Drilling Tools International by 14.0% in the first quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock valued at $250,000 after purchasing an additional 10,204 shares during the last quarter. Gendell Jeffrey L purchased a new position in shares of Drilling Tools International during the 1st quarter valued at $35,000. Concurrent Investment Advisors LLC grew its stake 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 acquiring an additional 20,000 shares during the period. Fifth Lane Capital LP increased its holdings in Drilling Tools International by 12.6% in the 1st quarter. Fifth Lane Capital LP now owns 45,000 shares of the company’s stock worth $135,000 after acquiring an additional 5,024 shares during the last quarter. Finally, Solidarity Wealth LLC raised its stake in Drilling Tools International by 250.0% in 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 period. Institutional investors own 2.79% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on Drilling Tools International in a report on Monday, February 26th. They set a “hold” rating and a $3.00 target price on the stock.

View Our Latest Analysis on Drilling Tools International

Drilling Tools International Stock Down 9.6 %

NASDAQ:DTI traded down $0.56 during trading hours on Friday, reaching $5.25. The company had a trading volume of 71,856 shares, compared to its average volume of 37,776. Drilling Tools International has a twelve month low of $2.43 and a twelve month high of $7.70. 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 firm has a market cap of $156.29 million, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.04 and a beta of -0.90. The business’s 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $3.96.

Drilling Tools International (NASDAQ:DTIGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts expect that Drilling Tools International will post 0.62 earnings per share for the current year.

About Drilling Tools International

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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.

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