Drilling Tools International Co. (NASDAQ:DTI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Drilling Tools International Co. (NASDAQ:DTI) by 31.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,808 shares of the company’s stock after buying an additional 50,236 shares during the quarter. Geode Capital Management LLC owned approximately 0.60% of Drilling Tools International worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 6,201 shares in the last quarter. Rhumbline Advisers bought a new stake in Drilling Tools International during the second quarter valued at $49,000. Barclays PLC raised its holdings in shares of 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 purchasing an additional 13,479 shares during the period. Woodstock Corp bought a new position in shares of Drilling Tools International in the 3rd quarter worth about $57,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Drilling Tools International during the 2nd quarter valued at about $99,000. Institutional investors own 2.79% of the company’s stock.

Drilling Tools International Price Performance

Shares of NASDAQ:DTI opened at $3.29 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 1.32. The company has a market capitalization of $117.10 million, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.04 and a beta of -0.86. The stock has a fifty day moving average of $3.39 and a 200-day moving average of $4.02. Drilling Tools International Co. has a one year low of $2.43 and a one year high of $6.36.

Wall Street Analyst Weigh In

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 research report on Friday, November 15th.

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.