Drilling Tools International Co. (NASDAQ:DTI) Short Interest Up 6.4% in December

Drilling Tools International Co. (NASDAQ:DTI - Get Free Report) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 328,300 shares, an increase of 6.4% from the November 30th total of 308,600 shares. Approximately 3.3% of the company's shares are sold short. Based on an average daily volume of 51,100 shares, the days-to-cover ratio is currently 6.4 days.

Drilling Tools International Stock Up 0.6 %

Shares of DTI stock traded up $0.02 during trading hours on Thursday, reaching $3.29. 39,066 shares of the company's stock were exchanged, compared to its average volume of 49,838. The stock has a market cap of $114.18 million, a PE ratio of 11.75, a PEG ratio of 1.04 and a beta of -0.90. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $3.39 and its two-hundred day moving average price is $4.09. Drilling Tools International has a 1 year low of $2.43 and a 1 year high of $6.36.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DTI. Bank of New York Mellon Corp acquired a new stake in shares of Drilling Tools International in the second quarter worth $99,000. Rhumbline Advisers acquired a new stake in Drilling Tools International during the 2nd quarter worth about $49,000. Woodstock Corp purchased a new position in shares of Drilling Tools International during the 3rd quarter valued at about $57,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $105,000 after buying an additional 6,201 shares during the last quarter. Finally, Barclays PLC grew its holdings in Drilling Tools International by 414.6% during 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 period. 2.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Alliance Global Partners decreased their target price 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 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.