Drilling Tools International's (DTI) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed its "sell (d)" rating for Drilling Tools International (DTI), reflecting ongoing concerns about the company's stock performance.
• Drilling Tools International reported a quarterly loss of ($0.02) per share, missing analysts' estimates, with revenues at $39.42 million, below the consensus of $40.14 million.
• Institutional interest in DTI is growing, with Wellington Management increasing its holdings by over 50%, indicating a potential shift in investment strategy.

Drilling Tools International (NASDAQ:DTI - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Separately, Zacks Research raised Drilling Tools International from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 14th. One investment 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's stock. Based on data from MarketBeat, Drilling Tools International presently has an average rating of "Hold" and an average target price of $5.50.

Drilling Tools International Stock Performance

Shares of DTI opened at $2.51 on Friday. 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 50 day moving average price of $2.13 and a two-hundred day moving average price of $2.34. The firm has a market capitalization of $89.51 million, a P/E ratio of -19.31 and a beta of -0.37. Drilling Tools International has a 52 week low of $1.43 and a 52 week high of $3.82.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.06). The company had revenue of $39.42 million for the quarter, compared to the consensus estimate of $40.14 million. Drilling Tools International had a positive return on equity of 4.29% and a negative net margin of 2.81%. Drilling Tools International has set its FY 2025 guidance at EPS. Equities analysts forecast that Drilling Tools International will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Drilling Tools International

Several institutional investors have recently modified their holdings of DTI. Wellington Management Group LLP grew its holdings in Drilling Tools International by 50.6% during the first quarter. Wellington Management Group LLP now owns 23,965 shares of the company's stock valued at $57,000 after purchasing an additional 8,054 shares during the period. Bank of New York Mellon Corp grew its holdings in Drilling Tools International by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 22,526 shares of the company's stock valued at $53,000 after purchasing an additional 6,203 shares during the period. XTX Topco Ltd bought a new position in Drilling Tools International during the first quarter valued at $32,000. Nuveen LLC bought a new position in Drilling Tools International during the first quarter valued at $40,000. Finally, Bridgeway Capital Management LLC grew its holdings in Drilling Tools International by 187.0% during the second quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company's stock valued at $204,000 after purchasing an additional 46,741 shares during the period. 2.79% of the stock is owned by institutional investors.

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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