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

Drilling Tools International Corp. (NASDAQ:DTI) insider Michael Wayne Jr. Domino sold 4,166 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $2.50, for a total value of $10,415.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Drilling Tools International Price Performance

Drilling Tools International stock opened at $2.55 on Friday. 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 Corp. has a one year low of $1.43 and a one year high of $4.21. The business has a fifty day moving average of $2.11 and a two-hundred day moving average of $2.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.49 and a current ratio of 2.06.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DTI shares. Wall Street Zen upgraded shares of Drilling Tools International from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Zacks Research lowered shares of Drilling Tools International from a “hold” rating to a “strong sell” rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Drilling Tools International presently has an average rating of “Hold” and a consensus target price of $5.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTI. XTX Topco Ltd purchased a new position in Drilling Tools International in the 1st quarter valued at about $32,000. Nuveen LLC purchased a new position in Drilling Tools International in the 1st quarter valued at about $40,000. BNP Paribas Financial Markets purchased a new position in Drilling Tools International in the 4th quarter valued at about $46,000. Qube Research & Technologies Ltd purchased a new position in Drilling Tools International in the 2nd quarter valued at about $49,000. Finally, Wellington Management Group LLP purchased a new position in Drilling Tools International in the 4th quarter valued at about $52,000. 2.79% of the stock is currently owned by hedge funds and other institutional investors.

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.