Drilling Tools International (NASDAQ:DTI) CFO Buys $50,077.50 in Stock

Drilling Tools International Corp. (NASDAQ:DTI) CFO David Richard Johnson purchased 30,350 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was acquired at an average price of $1.65 per share, with a total value of $50,077.50. Following the purchase, the chief financial officer directly owned 97,780 shares of the company’s stock, valued at approximately $161,337. The trade was a 45.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Drilling Tools International Stock Performance

Shares of NASDAQ:DTI opened at $1.72 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.08 and a quick ratio of 1.58. The business has a 50-day simple moving average of $2.07 and a two-hundred day simple moving average of $2.77. Drilling Tools International Corp. has a fifty-two week low of $1.35 and a fifty-two week high of $4.69.

Drilling Tools International (NASDAQ:DTI) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Drilling Tools International had a negative net margin of 3.06% and a negative return on equity of 0.40%. The company had revenue of $40.65 million for the quarter, compared to analysts’ expectations of $40.87 million. Equities research analysts forecast that Drilling Tools International Corp. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DTI has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Drilling Tools International in a research note on Monday, October 26th. Jefferies Financial Group reissued a “hold” rating and set a $2.80 price target on shares of Drilling Tools International in a report on Sunday, August 9th. Finally, Zacks Research cut Drilling Tools International from a “hold” rating to a “strong sell” rating in a research report on Monday. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus price target of $2.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bfsg LLC increased its holdings in shares of Drilling Tools International by 45.1% in the third quarter. Bfsg LLC now owns 21,265 shares of the company’s stock worth $49,000 after purchasing an additional 6,610 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Drilling Tools International in the 2nd quarter worth approximately $34,000. OMERS ADMINISTRATION Corp bought a new position in shares of Drilling Tools International during the 1st quarter valued at approximately $80,000. Engineers Gate Manager LP grew its holdings in shares of Drilling Tools International by 129.2% in the second quarter. Engineers Gate Manager LP now owns 37,825 shares of the company’s stock valued at $73,000 after purchasing an additional 21,319 shares in the last quarter. Finally, AXQ Capital LP raised its stake in Drilling Tools International by 93.5% during the second quarter. AXQ Capital LP now owns 48,048 shares of the company’s stock valued at $93,000 after purchasing an additional 23,213 shares in the last quarter. 2.79% of the stock is currently owned by institutional investors.

Drilling Tools International Company Profile

Drilling Tools International Corporation (NASDAQ: DTI) provides rental tools and related services to the oil and gas drilling industry. The company supplies downhole equipment used in drilling, completion and production operations, serving exploration and production companies, drilling contractors and oilfield service providers. Its product offering includes drill pipe, drill collars, heavy-weight drill pipe, stabilizers, subs, mud motors, drilling jars and other specialized downhole tools. Drilling Tools International also provides equipment inspection, maintenance, repair, refurbishment and machining services intended to support the safe and efficient use of drilling equipment.