Drilling Tools International (NASDAQ:DTI) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Drilling Tools International (NASDAQ:DTI) from “buy” to “hold,” adding to a mixed analyst picture that still leaves the stock with an overall “Moderate Buy” rating.
• The company recently reported Q1 earnings of -$0.03 per share, missing expectations, though revenue of $37.96 million was slightly above estimates.
• DTI shares opened at $3.00 and the stock remains well below its 12-month high of $4.69; the company has a market cap of about $105.6 million.

Drilling Tools International (NASDAQ:DTI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

DTI has been the subject of a number of other reports. Weiss Ratings downgraded Drilling Tools International from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, April 29th. Zacks Research upgraded Drilling Tools International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Drilling Tools International Stock Performance

Shares of NASDAQ DTI opened at $3.00 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.52 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $3.56 and a 200-day simple moving average of $3.15. The company has a market cap of $105.57 million, a PE ratio of -27.27, a P/E/G ratio of 1.95 and a beta of -0.60. Drilling Tools International has a 12-month low of $1.65 and a 12-month high of $4.69.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $37.96 million for the quarter, compared to analyst estimates of $37.80 million. Drilling Tools International had a positive return on equity of 0.45% and a negative net margin of 2.35%. On average, equities research analysts forecast that Drilling Tools International will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors have recently added to or reduced their stakes in the company. Gendell Jeffrey L lifted its position in Drilling Tools International by 29.2% in the fourth quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company's stock worth $5,977,000 after purchasing an additional 552,046 shares during the period. Jane Street Group LLC acquired a new stake in Drilling Tools International in the fourth quarter worth approximately $69,000. Goldman Sachs Group Inc. bought a new position in shares of Drilling Tools International in the fourth quarter valued at $178,000. Geode Capital Management LLC increased its holdings in shares of Drilling Tools International by 12.7% in the fourth quarter. Geode Capital Management LLC now owns 159,400 shares of the company's stock valued at $391,000 after buying an additional 17,926 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Drilling Tools International in the third quarter valued at $55,000. 2.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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