Michael Wayne Jr. Domino Sells 24,996 Shares of Drilling Tools International (NASDAQ:DTI) Stock

Drilling Tools International Corp. (NASDAQ:DTI) insider Michael Wayne Jr. Domino sold 24,996 shares of Drilling Tools International stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $4.00, for a total value of $99,984.00. Following the sale, the insider directly owned 1,433,054 shares in the company, valued at $5,732,216. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Michael Wayne Jr. Domino also recently made the following trade(s):

• On Thursday, January 15th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The stock was sold at an average price of $3.36, for a total value of $6,998.88.
• On Monday, December 15th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The stock was sold at an average price of $2.65, for a total value of $5,519.95.
• On Monday, November 17th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The shares were sold at an average price of $2.51, for a total value of $5,228.33.
• On Friday, October 24th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The stock was sold at an average price of $2.50, for a total value of $5,207.50.

Drilling Tools International Stock Down 2.5%

Shares of NASDAQ:DTI opened at $3.90 on Friday. The company’s fifty day moving average is $2.77 and its 200-day moving average is $2.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.47 and a current ratio of 2.04. Drilling Tools International Corp. has a 52 week low of $1.43 and a 52 week high of $4.05. The company has a market capitalization of $137.28 million, a PE ratio of -20.53, a P/E/G ratio of 2.96 and a beta of -0.38.

Drilling Tools International (NASDAQ:DTI) last announced its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Drilling Tools International had a negative net margin of 3.93% and a positive return on equity of 1.12%. The business had revenue of $38.82 million during the quarter, compared to analysts’ expectations of $36.18 million. Equities research analysts predict that Drilling Tools International Corp. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DTI has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Drilling Tools International in a report on Wednesday. Zacks Research upgraded Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen raised Drilling Tools International to a “hold” rating in a research note on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in Drilling Tools International in the third quarter valued at about $55,000. Cresset Asset Management LLC lifted its position in Drilling Tools International by 184.5% during the 3rd quarter. Cresset Asset Management LLC now owns 200,521 shares of the company’s stock valued at $461,000 after purchasing an additional 130,032 shares during the period. MAI Capital Management lifted its position in Drilling Tools International by 8,394.3% during the 3rd quarter. MAI Capital Management now owns 65,831 shares of the company’s stock valued at $151,000 after purchasing an additional 65,056 shares during the period. Sanders Morris Harris LLC bought a new position in shares of Drilling Tools International in the 3rd quarter valued at about $34,000. Finally, Gendell Jeffrey L grew its position in shares of Drilling Tools International by 20.9% during the 2nd quarter. Gendell Jeffrey L now owns 1,414,027 shares of the company’s stock worth $4,030,000 after buying an additional 244,157 shares during the period. Institutional investors own 2.79% of the company’s stock.

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.