Walleye Capital LLC Purchases New Position in Drilling Tools International Corp. $DTI

Walleye Capital LLC acquired a new position in shares of Drilling Tools International Corp. (NASDAQ:DTI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 287,099 shares of the company’s stock, valued at approximately $1,243,000. Walleye Capital LLC owned about 0.82% of Drilling Tools International at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd raised its holdings in Drilling Tools International by 52.3% in the fourth quarter. XTX Topco Ltd now owns 16,026 shares of the company’s stock worth $39,000 after purchasing an additional 5,504 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Drilling Tools International during the second quarter worth $49,000. Citadel Advisors LLC acquired a new position in shares of Drilling Tools International in the 3rd quarter valued at $55,000. Veradace Capital Management LLC acquired a new position in shares of Drilling Tools International in the 4th quarter valued at $62,000. Finally, Jane Street Group LLC bought a new stake in shares of Drilling Tools International in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Drilling Tools International Stock Performance

Shares of NASDAQ:DTI opened at $2.27 on Friday. The firm has a market cap of $79.77 million, a price-to-earnings ratio of -20.64, a PEG ratio of 2.80 and a beta of -0.60. Drilling Tools International Corp. has a 12 month low of $1.65 and a 12 month high of $4.69. The company’s fifty day simple moving average is $2.46 and its 200 day simple moving average is $3.16. The company has a quick ratio of 1.57, a current ratio of 2.15 and a debt-to-equity ratio of 0.38.

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

Analysts Set New Price Targets

Several analysts recently commented on DTI shares. Wall Street Zen downgraded Drilling Tools International from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised Drilling Tools International from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings downgraded Drilling Tools International from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Drilling Tools International presently has a consensus rating of “Reduce”.

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.