Michael Wayne Jr. Domino Sells 6,249 Shares of Drilling Tools International (NASDAQ:DTI) Stock

Drilling Tools International Corp. (NASDAQ:DTI) insider Michael Wayne Jr. Domino sold 6,249 shares of Drilling Tools International stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $3.96, for a total value of $24,746.04. Following the completion of the sale, the insider directly owned 1,426,805 shares of the company’s stock, valued at $5,650,147.80. This trade represents a 0.44% 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.

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

• On Wednesday, January 21st, Michael Wayne Jr. Domino sold 24,996 shares of Drilling Tools International stock. The stock was sold at an average price of $4.00, for a total transaction of $99,984.00.
• 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 transaction of $6,998.88.
• On Monday, December 15th, Michael Wayne Jr. Domino sold 2,083 shares of Drilling Tools International stock. The shares were sold at an average price of $2.65, for a total value of $5,519.95.

Drilling Tools International Trading Up 1.5%

NASDAQ:DTI traded up $0.06 during mid-day trading on Tuesday, hitting $4.05. The company had a trading volume of 308,893 shares, compared to its average volume of 261,335. 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 fifty-two week low of $1.43 and a fifty-two week high of $4.38. The firm has a market cap of $142.56 million, a P/E ratio of -21.32, a P/E/G ratio of 2.96 and a beta of -0.36. The business’s fifty day moving average is $3.22 and its two-hundred day moving average is $2.56.

Institutional Investors Weigh In On Drilling Tools International

Several institutional investors have recently bought and sold shares of DTI. Gendell Jeffrey L boosted its position in Drilling Tools International by 29.2% during the 4th quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company’s stock worth $5,977,000 after acquiring an additional 552,046 shares during the last quarter. Cresset Asset Management LLC lifted its position in shares of Drilling Tools International by 184.5% in the third quarter. Cresset Asset Management LLC now owns 200,521 shares of the company’s stock worth $461,000 after purchasing an additional 130,032 shares in the last quarter. Bailard Inc. acquired a new position in Drilling Tools International during the fourth quarter worth $190,000. Global Retirement Partners LLC bought a new position in Drilling Tools International in the second quarter valued at $221,000. Finally, Goldman Sachs Group Inc. bought a new position in Drilling Tools International in the fourth quarter valued at $178,000. Institutional investors own 2.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Drilling Tools International in a research note on Wednesday, January 21st. Zacks Research lowered shares of Drilling Tools International from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Drilling Tools International to a “hold” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

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.