Drilling Tools International (NASDAQ:DTI) Price Target Cut to $5.50 by Analysts at Alliance Global Partners

Drilling Tools International (NASDAQ:DTI) had its price objective reduced by Alliance Global Partners from $7.50 to $5.50 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Drilling Tools International Stock Up 0.4 %

NASDAQ DTI traded up $0.01 during trading on Friday, reaching $3.49. 80,688 shares of the company’s stock were exchanged, compared to its average volume of 49,823. The firm has a market capitalization of $120.95 million, a PE ratio of 12.43, a P/E/G ratio of 1.05 and a beta of -0.96. Drilling Tools International has a fifty-two week low of $2.43 and a fifty-two week high of $6.36. The company has a current ratio of 1.97, a quick ratio of 1.50 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $4.65.

Hedge Funds Weigh In On Drilling Tools International

A number of hedge funds have recently added to or reduced their stakes in DTI. Gendell Jeffrey L bought a new stake in shares of Drilling Tools International during the 1st quarter worth $35,000. Shaolin Capital Management LLC boosted its holdings in Drilling Tools International by 14.0% during the first quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock valued at $250,000 after acquiring an additional 10,204 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Drilling Tools International in the second quarter valued at about $99,000. Rhumbline Advisers bought a new position in shares of Drilling Tools International in the second quarter worth about $49,000. Finally, Woodstock Corp acquired a new position in shares of Drilling Tools International during the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Drilling Tools International Company 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.