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

Drilling Tools International Co. (NASDAQ:DTI) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 317,000 shares, a growth of 29.1% from the October 15th total of 245,600 shares. Based on an average daily volume of 43,900 shares, the short-interest ratio is currently 7.2 days. Approximately 3.2% of the company’s shares are short sold.

Drilling Tools International Trading Up 0.4 %

NASDAQ DTI opened at $3.49 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 1.97. The stock has a market cap of $120.95 million, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.05 and a beta of -0.96. The stock has a 50 day simple moving average of $3.60 and a two-hundred day simple moving average of $4.64. Drilling Tools International has a fifty-two week low of $2.43 and a fifty-two week high of $6.36.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DTI. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 50,236 shares in the last quarter. Shaolin Capital Management LLC boosted its position in shares of Drilling Tools International by 14.0% in the 1st quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock worth $250,000 after purchasing an additional 10,204 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Drilling Tools International by 28.1% during the 3rd 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in Drilling Tools International during the second quarter valued at $99,000. Finally, Barclays PLC grew its stake in shares of Drilling Tools International by 414.6% in the third quarter. Barclays PLC now owns 16,730 shares of the company’s stock worth $62,000 after acquiring an additional 13,479 shares during the last quarter. 2.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered their price target on shares of Drilling Tools International from $7.50 to $5.50 and set a “buy” rating for the company in a report on Friday.

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.