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

Drilling Tools International Co. (NASDAQ:DTI) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 179,900 shares, an increase of 1,075.8% from the March 31st total of 15,300 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average trading volume of 38,300 shares, the short-interest ratio is presently 4.7 days.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on shares of Drilling Tools International in a research note on Monday, February 26th. They issued a “hold” rating and a $3.00 target price on the stock.

Drilling Tools International Stock Performance

Shares of DTI opened at $5.30 on Friday. Drilling Tools International has a 12-month low of $2.43 and a 12-month high of $10.58. The business’s fifty day moving average price is $3.62 and its 200 day moving average price is $3.44.

Drilling Tools International (NASDAQ:DTI) last issued its earnings results on Wednesday, March 27th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $35.19 million during the quarter. Drilling Tools International had a return on equity of 20.30% and a net margin of 9.70%. As a group, research analysts anticipate that Drilling Tools International will post 0.69 EPS for the current year.

Institutional Investors Weigh In On Drilling Tools International

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in shares of Drilling Tools International in the 3rd quarter worth about $192,000. Shaolin Capital Management LLC boosted its position in shares of Drilling Tools International by 188.2% during the third quarter. Shaolin Capital Management LLC now owns 75,000 shares of the company’s stock worth $293,000 after buying an additional 159,998 shares during the period. Finally, Solidarity Wealth LLC bought a new position in Drilling Tools International in the 3rd quarter worth approximately $309,000. 2.79% of the stock is owned by institutional investors and hedge funds.

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.