Zacks Investment Research cut shares of Superior Drilling Products (NYSEAMERICAN:SDPI) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 9th.
According to Zacks, “Superior Drilling Products, Inc. operates as a manufacturer and remanufacturer of PDC (polycrystalline diamond compact) drill bits and drill string tools for the oil, natural gas and mining services industries. It also provides manufacturing, leasing, and refurbishing of drill string tools to oil field services clients. Superior Drilling Products, Inc. is based in United States. “
Several other brokerages have also recently issued reports on SDPI. ValuEngine raised shares of Superior Drilling Products from a strong sell rating to a sell rating in a report on Thursday, November 9th. TheStreet upgraded shares of Superior Drilling Products from a d rating to a c- rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Superior Drilling Products presently has an average rating of Buy and an average target price of $1.83.
Superior Drilling Products (SDPI) traded down $0.03 during trading hours on Tuesday, hitting $1.42. 64,582 shares of the stock traded hands, compared to its average volume of 101,430. Superior Drilling Products has a 12-month low of $0.59 and a 12-month high of $1.77. The stock has a market cap of $35.25, a PE ratio of -15.78 and a beta of -1.79.
Superior Drilling Products (NYSEAMERICAN:SDPI) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $4.45 million for the quarter, compared to analysts’ expectations of $4.13 million.
An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. grew its position in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616,733 shares of the oil and gas company’s stock after purchasing an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned approximately 2.55% of Superior Drilling Products worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Superior Drilling Products Company Profile
Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.
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