Drilling Tools International (NASDAQ:DTI) Price Target Lowered to $5.50 at Alliance Global Partners

Drilling Tools International (NASDAQ:DTI) had its price objective decreased by Alliance Global Partners from $7.50 to $5.50 in a report published on Friday morning,Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

Drilling Tools International Trading Up 0.4 %

Shares of DTI traded up $0.01 on Friday, hitting $3.49. 80,688 shares of the stock traded hands, compared to its average volume of 49,823. The firm has a market capitalization of $120.95 million, a P/E ratio of 12.43, a P/E/G ratio of 1.05 and a beta of -0.96. The company has a quick ratio of 1.50, a current ratio of 1.97 and a debt-to-equity ratio of 0.21. Drilling Tools International has a 1 year low of $2.43 and a 1 year high of $6.36. The stock’s 50 day moving average is $3.60 and its two-hundred day moving average is $4.65.

Hedge Funds Weigh In On Drilling Tools International

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Drilling Tools International during the 2nd quarter worth about $49,000. Gendell Jeffrey L bought a new stake in shares of Drilling Tools International in the 1st quarter worth $35,000. Woodstock Corp acquired a new stake in shares of Drilling Tools International in the third quarter valued at $57,000. Barclays PLC lifted its holdings 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 valued at $62,000 after buying an additional 13,479 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Drilling Tools International during the second quarter valued at about $99,000. 2.79% of the stock is currently owned by institutional investors.

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.