JPMorgan Chase & Co. Grows Stock Holdings in Drilling Tools International Co. (NASDAQ:DTI)

JPMorgan Chase & Co. boosted its stake in shares of Drilling Tools International Co. (NASDAQ:DTI) by 189.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,241 shares of the company’s stock after buying an additional 13,249 shares during the period. JPMorgan Chase & Co. owned 0.06% of Drilling Tools International worth $75,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $105,000 after buying an additional 6,201 shares during the last quarter. Geode Capital Management LLC lifted its position in Drilling Tools International by 31.5% in the third quarter. Geode Capital Management LLC now owns 209,808 shares of the company’s stock valued at $783,000 after buying an additional 50,236 shares during the last quarter. Barclays PLC lifted its position in 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 last quarter. Finally, Woodstock Corp purchased a new position in shares of Drilling Tools International during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners lowered their price objective 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.

Drilling Tools International Stock Down 3.8 %

Shares of NASDAQ:DTI opened at $3.06 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 0.99. The firm has a market capitalization of $108.91 million, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.89 and a beta of -0.86. The firm’s 50-day moving average is $3.37 and its two-hundred day moving average is $3.74. Drilling Tools International Co. has a 1 year low of $2.43 and a 1 year high of $6.36.

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.