Drilling Tools International (NASDAQ:DTI) Insider Michael Wayne Jr. Domino Sells 4,166 Shares

Drilling Tools International Corp. (NASDAQ:DTI) insider Michael Wayne Jr. Domino sold 4,166 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $2.50, for a total transaction of $10,415.00. Following the transaction, the insider directly owned 1,466,382 shares of the company’s stock, valued at approximately $3,665,955. This represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Drilling Tools International Trading Up 0.4%

NASDAQ DTI opened at $2.55 on Friday. Drilling Tools International Corp. has a 12 month low of $1.43 and a 12 month high of $4.21. The company has a 50-day moving average of $2.11 and a 200-day moving average of $2.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.49. The company has a market cap of $90.93 million, a P/E ratio of -19.62 and a beta of -0.42.

Drilling Tools International (NASDAQ:DTI) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Drilling Tools International had a negative net margin of 2.81% and a positive return on equity of 4.29%. The company had revenue of $39.42 million for the quarter, compared to analyst estimates of $40.14 million. Drilling Tools International has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Drilling Tools International Corp. will post 0.38 earnings per share for the current year.

Institutional Trading of Drilling Tools International

Several large investors have recently bought and sold shares of the company. Gendell Jeffrey L grew its position in Drilling Tools International by 20.9% in the second quarter. Gendell Jeffrey L now owns 1,414,027 shares of the company’s stock valued at $4,030,000 after acquiring an additional 244,157 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Drilling Tools International in the second quarter valued at approximately $221,000. Y Intercept Hong Kong Ltd acquired a new stake in Drilling Tools International in the second quarter valued at approximately $139,000. Bridgeway Capital Management LLC grew its position in Drilling Tools International by 187.0% in the second quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company’s stock valued at $204,000 after acquiring an additional 46,741 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Drilling Tools International in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Drilling Tools International from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Zacks Research downgraded shares of Drilling Tools International from a “hold” rating to a “strong sell” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Drilling Tools International presently has an average rating of “Hold” and a consensus price target of $5.50.

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.