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

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 stock was sold at an average price of $4.00, for a total transaction of $99,984.00. Following the completion of the transaction, the insider directly owned 1,433,054 shares in the company, valued at approximately $5,732,216. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a 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 transaction of $5,519.95.
• On Monday, November 17th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The stock was sold at an average price of $2.51, for a total transaction 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 Price Performance

DTI opened at $4.00 on Thursday. The firm has a market capitalization of $140.80 million, a P/E ratio of -21.05, a PEG ratio of 2.67 and a beta of -0.38. The stock has a fifty day moving average of $2.74 and a 200-day moving average of $2.37. The company has a quick ratio of 1.47, a current ratio of 2.04 and a debt-to-equity ratio of 0.37. Drilling Tools International Corp. has a 12-month low of $1.43 and a 12-month high of $4.05.

Drilling Tools International (NASDAQ:DTI) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $36.18 million. Equities analysts forecast that Drilling Tools International Corp. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sanders Morris Harris LLC bought a new stake in Drilling Tools International in the third quarter worth $34,000. Qube Research & Technologies Ltd bought a new stake in shares of Drilling Tools International during the 2nd quarter worth about $49,000. Citadel Advisors LLC acquired a new position in shares of Drilling Tools International during the 3rd quarter valued at about $55,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Drilling Tools International during the 2nd quarter valued at about $139,000. Finally, MAI Capital Management raised its stake in shares of Drilling Tools International by 8,394.3% in the 3rd quarter. MAI Capital Management now owns 65,831 shares of the company’s stock valued at $151,000 after acquiring an additional 65,056 shares in the last quarter. Institutional investors own 2.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DTI shares. Wall Street Zen raised shares of Drilling Tools International to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Drilling Tools International in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Drilling Tools International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.