Drilling Tools International (NASDAQ:DTI) Stock: Insider Robert Wayne Prejean Purchases 100,000 Shares

Drilling Tools International Corp. (NASDAQ:DTI) CEO Robert Wayne Prejean bought 100,000 shares of the stock in a transaction dated Monday, November 9th. The stock was bought at an average price of $1.64 per share, for a total transaction of $164,000.00. Following the purchase, the chief executive officer directly owned 591,076 shares of the company’s stock, valued at approximately $969,364.64. The trade was a 20.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Drilling Tools International Stock Up 8.8%

Drilling Tools International stock opened at $1.61 on Thursday. The business’s 50-day moving average price is $2.09 and its 200 day moving average price is $2.79. The company has a quick ratio of 1.58, a current ratio of 2.08 and a debt-to-equity ratio of 0.37. Drilling Tools International Corp. has a 52 week low of $1.35 and a 52 week high of $4.69.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $40.87 million. Sell-side analysts predict that Drilling Tools International Corp. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Drilling Tools International

A number of large investors have recently bought and sold shares of DTI. Squarepoint Ops LLC acquired a new stake in Drilling Tools International in the second quarter valued at approximately $34,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Drilling Tools International during the 1st quarter worth approximately $80,000. Bfsg LLC raised its stake in shares of Drilling Tools International by 45.1% during the 3rd quarter. Bfsg LLC now owns 21,265 shares of the company’s stock worth $49,000 after buying an additional 6,610 shares during the period. Engineers Gate Manager LP raised its stake in shares of Drilling Tools International by 129.2% during the 2nd quarter. Engineers Gate Manager LP now owns 37,825 shares of the company’s stock worth $73,000 after buying an additional 21,319 shares during the period. Finally, AXQ Capital LP lifted its position in shares of Drilling Tools International by 93.5% during the 2nd quarter. AXQ Capital LP now owns 48,048 shares of the company’s stock valued at $93,000 after buying an additional 23,213 shares in the last quarter. Institutional investors and hedge funds own 2.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DTI. Zacks Research downgraded shares of Drilling Tools International from a “hold” rating to a “strong sell” rating in a report on Monday. Jefferies Financial Group restated a “hold” rating and set a $2.80 price target on shares of Drilling Tools International in a research report on Sunday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Drilling Tools International in a report on Monday, October 26th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Drilling Tools International currently has an average rating of “Sell” and an average target price of $2.80.

More Drilling Tools International News

Investors following DTI have been watching these news items:

• Positive Sentiment: Three insiders bought a combined 155,350 shares for about $255,000. CEO Robert Prejean purchased 100,000 shares, with the CFO and director also increasing their holdings. CEO SEC filing
• Negative Sentiment: Zacks Research downgraded DTI from “hold” to “strong sell,” adding to concerns about the stock’s outlook. Zacks Research ratings
• Negative Sentiment: Third-quarter EPS was a loss of $0.01, missing the $0.04 analyst estimate; revenue also came in slightly below expectations. Higher costs and increased capital spending are weighing on the earnings and 2026 free-cash-flow outlook. Zacks earnings article

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.