Zacks Investment Research downgraded shares of Superior Drilling Products (NYSEAMERICAN:SDPI) from a hold rating to a sell rating in a research report sent to investors on Wednesday, March 14th.
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. “
Separately, TheStreet lowered shares of Superior Drilling Products from a c- rating to a d+ rating in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $1.83.
Shares of SDPI traded down $0.01 during trading hours on Wednesday, hitting $1.75. The stock had a trading volume of 18,816 shares, compared to its average volume of 74,288. Superior Drilling Products has a fifty-two week low of $0.59 and a fifty-two week high of $1.79.
Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings data on Thursday, March 8th. The oil and gas company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.71 million.
A hedge fund recently raised its stake in Superior Drilling Products stock. Adirondack Research & Management Inc. boosted its position in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,733 shares of the oil and gas company’s stock after buying an additional 595,733 shares during the period. Adirondack Research & Management Inc. owned approximately 2.55% of Superior Drilling Products worth $493,000 as of its most recent SEC filing.
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About Superior Drilling Products
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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