Wall Street Zen Upgrades Drilling Tools International (NASDAQ:DTI) to “Buy”

Drilling Tools International (NASDAQ:DTI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Drilling Tools International in a research note on Wednesday, January 21st. Zacks Research upgraded Drilling Tools International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Drilling Tools International Trading Up 3.2%

NASDAQ:DTI opened at $3.52 on Friday. Drilling Tools International has a 12 month low of $1.43 and a 12 month high of $4.38. The company has a current ratio of 2.11, a quick ratio of 1.52 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $3.59 and its 200 day moving average is $2.78. The stock has a market capitalization of $123.85 million, a PE ratio of -29.33, a price-to-earnings-growth ratio of 2.06 and a beta of -0.34.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.04 earnings per share for the quarter. Drilling Tools International had a positive return on equity of 1.88% and a negative net margin of 2.36%.The business had revenue of $38.51 million during the quarter, compared to analyst estimates of $37.02 million. Sell-side analysts expect that Drilling Tools International will post 0.38 earnings per share for the current year.

Insider Activity at Drilling Tools International

In related news, insider Michael Wayne Jr. Domino sold 24,996 shares of the business’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. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 33,328 shares of company stock valued at $131,729 in the last three months. 56.50% of the stock is currently owned by company insiders.

Institutional Trading of Drilling Tools International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Drilling Tools International in the 2nd quarter valued at $221,000. Qube Research & Technologies Ltd bought a new position in shares of Drilling Tools International in the second quarter worth $49,000. Bridgeway Capital Management LLC raised its position in shares of Drilling Tools International by 187.0% in the second quarter. Bridgeway Capital Management LLC now owns 71,741 shares of the company’s stock worth $204,000 after buying an additional 46,741 shares in the last quarter. Gendell Jeffrey L raised its position in shares of Drilling Tools International by 20.9% in the second quarter. Gendell Jeffrey L now owns 1,414,027 shares of the company’s stock worth $4,030,000 after buying an additional 244,157 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in Drilling Tools International during the third quarter valued at $34,000. 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.