Soltis Investment Advisors LLC Takes $36,000 Position in Drilling Tools International Co. (NASDAQ:DTI)

Soltis Investment Advisors LLC acquired a new position in Drilling Tools International Co. (NASDAQ:DTI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,000 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DTI. Barclays PLC lifted its position in shares of Drilling Tools International by 414.6% in the 3rd quarter. Barclays PLC now owns 16,730 shares of the company’s stock worth $62,000 after purchasing an additional 13,479 shares during the period. JPMorgan Chase & Co. raised its stake in Drilling Tools International by 189.5% during the third quarter. JPMorgan Chase & Co. now owns 20,241 shares of the company’s stock worth $75,000 after buying an additional 13,249 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Drilling Tools International by 28.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 28,283 shares of the company’s stock valued at $105,000 after buying an additional 6,201 shares during the period. Finally, Geode Capital Management LLC boosted its position in Drilling Tools International by 31.5% during the third quarter. Geode Capital Management LLC now owns 209,808 shares of the company’s stock valued at $783,000 after acquiring an additional 50,236 shares during the last quarter. 2.79% of the stock is currently owned by institutional investors and hedge funds.

Drilling Tools International Price Performance

Shares of DTI opened at $3.22 on Wednesday. The firm has a market cap of $114.60 million, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.84 and a beta of -0.86. Drilling Tools International Co. has a 52-week low of $2.50 and a 52-week high of $6.36. The business’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $3.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 1.32.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners lowered their price objective on Drilling Tools International from $7.50 to $5.50 and set a “buy” rating for the company in a research report on Friday, November 15th.

Drilling Tools International 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.