Drilling Tools International (NASDAQ:DTI) Raised to "Hold" at Zacks Research

Key Points

• Drilling Tools International was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a shift in analyst sentiment.
• The company's stock, which opened at $2.13, has a 52-week high of $3.82 and is currently rated as a "hold" with a consensus target price of $5.50.
• Despite recent upgrades, Weiss Ratings has reiterated a "sell (d)" rating for the stock amidst mixed performance metrics and earnings reports.

Drilling Tools International (NASDAQ:DTI - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the company. According to data from MarketBeat, Drilling Tools International currently has an average rating of "Hold" and a consensus target price of $5.50.

Drilling Tools International Trading Up 2.4%

Shares of Drilling Tools International stock opened at $2.13 on Tuesday. Drilling Tools International has a 52-week low of $1.43 and a 52-week high of $3.82. The firm has a 50-day moving average of $2.09 and a 200-day moving average of $2.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.49 and a current ratio of 2.06. The stock has a market cap of $75.96 million, a PE ratio of -16.38 and a beta of -0.37.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.02) earnings per share 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 firm had revenue of $39.42 million for the quarter, compared to the consensus estimate of $40.14 million. Drilling Tools International has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Drilling Tools International will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 6,203 shares during the last quarter. XTX Topco Ltd bought a new position in Drilling Tools International in the 1st quarter valued at approximately $32,000. Nuveen LLC bought a new position in Drilling Tools International in the 1st quarter valued at approximately $40,000. Wellington Management Group LLP raised its holdings in Drilling Tools International by 50.6% in the 1st quarter. Wellington Management Group LLP now owns 23,965 shares of the company's stock valued at $57,000 after buying an additional 8,054 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Drilling Tools International in the 2nd quarter valued at approximately $139,000. 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.

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