Drilling Tools International Corp. (NASDAQ:DTI) Short Interest Down 44.2% in February

Drilling Tools International Corp. (NASDAQ:DTI) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 97,541 shares, a drop of 44.2% from the January 29th total of 174,874 shares. Based on an average daily trading volume, of 194,875 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the shares of the company are short sold. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 194,875 shares, the short-interest ratio is presently 0.5 days.

Insider Buying and Selling

In other Drilling Tools International news, insider Michael Wayne Jr. Domino sold 24,996 shares of the business’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 $5,732,216. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 35,411 shares of company stock valued at $137,249 over the last 90 days. Insiders own 14.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanders Morris Harris LLC bought a new stake in Drilling Tools International during the third quarter valued at approximately $34,000. XTX Topco Ltd raised its position in shares of Drilling Tools International by 52.3% during the 4th quarter. XTX Topco Ltd now owns 16,026 shares of the company’s stock valued at $39,000 after buying an additional 5,504 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Drilling Tools International during the 2nd quarter worth $49,000. Citadel Advisors LLC purchased a new position in Drilling Tools International in the third quarter worth $55,000. Finally, Veradace Capital Management LLC purchased a new position in Drilling Tools International in the fourth quarter worth $62,000. 2.79% of the stock is currently owned by institutional investors.

Drilling Tools International Price Performance

Shares of DTI stock traded up $0.16 on Monday, reaching $3.64. The company’s stock had a trading volume of 117,392 shares, compared to its average volume of 234,432. The company has a market capitalization of $128.23 million, a P/E ratio of -19.24, a PEG ratio of 2.58 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 stock’s 50 day simple moving average is $3.41 and its 200-day simple moving average is $2.67. The company has a quick ratio of 1.47, a current ratio of 2.04 and a debt-to-equity ratio of 0.37.

Analyst Ratings Changes

Several research firms have recently issued reports on DTI. Wall Street Zen raised shares of Drilling Tools International to a “hold” rating in a research report on Saturday, January 17th. Zacks Research cut shares of Drilling Tools International from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Drilling Tools International in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Drilling Tools International Company Profile

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.