Drilling Tools International (NASDAQ:DTI) Stock Price Down 1.8% – Should You Sell?

Drilling Tools International Corp. (NASDAQ:DTI) traded down 1.8% during mid-day trading on Wednesday . The stock traded as low as $2.75 and last traded at $2.78. 235,246 shares traded hands during trading, a decline of 18% from the average session volume of 286,039 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

Several analysts have weighed in on DTI shares. Wall Street Zen cut Drilling Tools International from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Drilling Tools International from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research lowered Drilling Tools International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Drilling Tools International Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.57 and a current ratio of 2.15. The stock has a market capitalization of $95.58 million, a P/E ratio of -24.73, a PEG ratio of 3.43 and a beta of -0.66. The business has a 50-day moving average price of $3.27 and a 200 day moving average price of $3.24.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Drilling Tools International had a negative net margin of 2.35% and a positive return on equity of 0.45%. The company had revenue of $37.96 million for the quarter, compared to analysts’ expectations of $37.80 million. As a group, sell-side analysts forecast that Drilling Tools International Corp. will post 0.09 EPS for the current fiscal year.

Institutional Trading of Drilling Tools International

Institutional investors and hedge funds have recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new position in shares of Drilling Tools International in the second quarter worth approximately $49,000. Bridgeway Capital Management LLC increased its position in shares of 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 acquiring an additional 46,741 shares in the last quarter. MAI Capital Management raised its holdings in Drilling Tools International by 8,394.3% in the 3rd quarter. MAI Capital Management now owns 65,831 shares of the company’s stock worth $151,000 after acquiring an additional 65,056 shares during the last quarter. Cresset Asset Management LLC lifted its position in Drilling Tools International by 184.5% in the 3rd quarter. Cresset Asset Management LLC now owns 200,521 shares of the company’s stock valued at $461,000 after acquiring an additional 130,032 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Drilling Tools International in the 3rd quarter valued at approximately $55,000. 2.79% of the stock is currently owned by institutional investors.

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.