Drilling Tools International Co. (NASDAQ:DTI) Short Interest Update

Drilling Tools International Co. (NASDAQ:DTI - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 270,500 shares, an increase of 7.5% from the September 15th total of 251,700 shares. Based on an average trading volume of 46,500 shares, the days-to-cover ratio is currently 5.8 days. Approximately 2.7% of the company's stock are sold short.

Separately, Alliance Global Partners reduced their price target on Drilling Tools International from $8.50 to $7.50 and set a "buy" rating for the company in a research report on Wednesday, August 7th.

Check Out Our Latest Analysis on Drilling Tools International

NASDAQ:DTI traded up $0.12 during trading hours on Wednesday, reaching $3.57. 22,921 shares of the stock were exchanged, compared to its average volume of 48,435. Drilling Tools International has a twelve month low of $2.43 and a twelve month high of $6.36. 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 firm has a 50 day moving average of $3.91 and a 200 day moving average of $4.87. The stock has a market cap of $106.28 million, a PE ratio of 8.02, a PEG ratio of 0.99 and a beta of -0.99.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $37.53 million during the quarter, compared to analyst estimates of $42.72 million. Drilling Tools International had a net margin of 7.85% and a return on equity of 16.64%. On average, equities analysts expect that Drilling Tools International will post 0.37 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Woodstock Corp bought a new stake in Drilling Tools International in the 3rd quarter valued at $57,000. Rhumbline Advisers bought a new stake in Drilling Tools International in the 2nd quarter valued at $49,000. Bank of New York Mellon Corp bought a new stake in Drilling Tools International in the 2nd quarter valued at $99,000. Shaolin Capital Management LLC raised its stake in Drilling Tools International by 14.0% in the 1st 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. Finally, Gendell Jeffrey L bought a new stake in Drilling Tools International in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 2.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Drilling Tools International, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Drilling Tools International wasn't on the list.

While Drilling Tools International currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.