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 the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $4.00, for a total transaction of $99,984.00. Following the completion of the transaction, the insider owned 1,433,054 shares of the company’s stock, valued at approximately $5,732,216. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $3.36, for a total transaction 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 shares were sold at an average price of $2.50, for a total transaction of $5,207.50.

Drilling Tools International Stock Performance

Shares of DTI traded up $0.39 during mid-day trading on Wednesday, hitting $4.00. The stock had a trading volume of 470,543 shares, compared to its average volume of 282,260. Drilling Tools International Corp. has a 52 week low of $1.43 and a 52 week high of $4.05. The business has a fifty day moving average price of $2.70 and a 200-day moving average price of $2.36. The firm has a market cap of $140.80 million, a P/E ratio of -21.05, a PEG ratio of 2.56 and a beta of -0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.04 and a quick ratio of 1.47.

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

Institutional Investors Weigh In On Drilling Tools International

A number of institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC purchased a new stake in Drilling Tools International in the third quarter valued at $34,000. Qube Research & Technologies Ltd purchased a new stake in shares of Drilling Tools International in the second quarter worth about $49,000. Citadel Advisors LLC acquired a new stake in Drilling Tools International during the third quarter worth about $55,000. Bridgeway Capital Management LLC raised its position in 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. Finally, Y Intercept Hong Kong Ltd purchased a new position in Drilling Tools International during the second quarter valued at approximately $139,000. Institutional investors own 2.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DTI. Weiss Ratings reiterated a “sell (d)” rating on shares of Drilling Tools International in a report on Wednesday, October 8th. Wall Street Zen raised shares of Drilling Tools International to a “hold” rating in a report on Saturday. Finally, Zacks Research raised Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.