Drilling Tools International (NASDAQ:DTI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Drilling Tools International from "buy" to strong-buy, and Zacks also raised its rating, but Weiss Ratings remains a sell, leaving a MarketBeat consensus of "Moderate Buy."
• DTI reported $0.04 EPS and $38.51 million in quarterly revenue (above estimates), trades around $3.39 with a market cap of about $119.3 million and a negative trailing P/E of -28.25.
• Insiders have recently sold shares (Michael Wayne Jr. Domino sold ~24,996 shares; 35,411 sold over 90 days), while several institutions increased stakes, though institutional ownership is reported at just 2.79%.

Drilling Tools International (NASDAQ:DTI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Several other analysts have also recently commented on DTI. Zacks Research raised shares of Drilling Tools International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Weiss Ratings restated a "sell (d)" rating on shares of Drilling Tools International in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Drilling Tools International Stock Performance

Drilling Tools International stock opened at $3.39 on Friday. The stock has a 50-day simple moving average of $3.77 and a 200 day simple moving average of $3.01. The stock has a market capitalization of $119.29 million, a price-to-earnings ratio of -28.25, a P/E/G ratio of 1.88 and a beta of -0.47. The company has a quick ratio of 1.52, a current ratio of 2.11 and a debt-to-equity ratio of 0.32. Drilling Tools International has a 12-month low of $1.65 and a 12-month high of $4.69.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.04 EPS for the quarter. Drilling Tools International had a negative net margin of 2.36% and a positive return on equity of 1.88%. The firm had revenue of $38.51 million for the quarter, compared to analyst estimates of $37.02 million. On average, research analysts anticipate that Drilling Tools International will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Drilling Tools International

In other news, insider Michael Wayne Jr. Domino sold 24,996 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $4.00, for a total value of $99,984.00. Following the transaction, the insider owned 1,433,054 shares of the company's stock, valued at $5,732,216. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 35,411 shares of company stock valued at $139,186. Corporate insiders own 17.10% of the company's stock.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gendell Jeffrey L boosted its holdings in Drilling Tools International by 29.2% during the fourth quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company's stock worth $5,977,000 after buying an additional 552,046 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Drilling Tools International by 184.5% during the 3rd quarter. Cresset Asset Management LLC now owns 200,521 shares of the company's stock worth $461,000 after buying an additional 130,032 shares during the period. Geode Capital Management LLC increased its stake in shares of Drilling Tools International by 12.7% in the 4th quarter. Geode Capital Management LLC now owns 159,400 shares of the company's stock valued at $391,000 after acquiring an additional 17,926 shares during the last quarter. Bailard Inc. bought a new stake in shares of Drilling Tools International in the 4th quarter valued at about $190,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Drilling Tools International in the 4th quarter valued at approximately $178,000. Institutional investors own 2.79% of the company's stock.

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.

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