Superior Drilling Products (SDPI) PT Raised to $5.00

Superior Drilling Products (NYSEAMERICAN:SDPI) had its target price hoisted by Imperial Capital from $3.00 to $5.00 in a report issued on Thursday morning, Marketbeat.com reports. Imperial Capital currently has an outperform rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on SDPI. Zacks Investment Research upgraded Superior Drilling Products from a hold rating to a buy rating and set a $2.00 price objective on the stock in a research report on Wednesday, July 11th. Roth Capital set a $3.00 price objective on Superior Drilling Products and gave the stock a buy rating in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $3.67.

Superior Drilling Products stock opened at $4.55 on Thursday. Superior Drilling Products has a one year low of $0.74 and a one year high of $5.03.

Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $5.40 million during the quarter, compared to the consensus estimate of $5.08 million.

A hedge fund recently raised its stake in Superior Drilling Products stock. Renaissance Technologies LLC increased its holdings in Superior Drilling Products Inc (NYSEAMERICAN:SDPI) by 121.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 353,483 shares of the oil and gas company’s stock after buying an additional 194,078 shares during the period. Renaissance Technologies LLC owned 1.44% of Superior Drilling Products worth $686,000 as of its most recent SEC filing.

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; and the refurbishment of polycrystalline diamond compact drill bits for the oil, natural gas, and mining service industries.

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