Drilling Tools International (NASDAQ:DTI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Drilling Tools International (NASDAQ:DTI) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Drilling Tools International in a report on Wednesday, January 21st. Zacks Research raised shares of Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Drilling Tools International Stock Up 3.2%

Shares of NASDAQ:DTI opened at $3.52 on Friday. The company has a market cap of $123.87 million, a price-to-earnings ratio of -29.33, a PEG ratio of 2.06 and a beta of -0.34. Drilling Tools International has a 12 month low of $1.43 and a 12 month high of $4.38. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $3.59 and a 200 day moving average price of $2.78.

Drilling Tools International (NASDAQ:DTI) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter. Drilling Tools International had a positive return on equity of 1.88% and a negative net margin of 2.36%.The business had revenue of $38.51 million for the quarter, compared to the consensus estimate of $37.02 million. As a group, equities research analysts predict that Drilling Tools International will post 0.38 earnings per share for the current year.

Insider Activity

In other news, insider Michael Wayne Jr. Domino sold 24,996 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $4.00, for a total value of $99,984.00. Following the transaction, the insider directly owned 1,433,054 shares in the company, valued at approximately $5,732,216. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 35,411 shares of company stock worth $137,249 over the last ninety days. 56.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Drilling Tools International in the 2nd quarter valued at about $221,000. Qube Research & Technologies Ltd purchased a new position in shares of Drilling Tools International during the second quarter worth approximately $49,000. Bridgeway Capital Management LLC raised its stake in shares of Drilling Tools International by 187.0% during 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. Gendell Jeffrey L raised its stake in shares of Drilling Tools International by 20.9% during 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. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Drilling Tools International in the third quarter valued at approximately $34,000. Institutional investors own 2.79% of the company’s stock.

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.