Alambic Investment Management L.P. purchased a new stake in Superior Drilling Products Inc (NYSEAMERICAN:SDPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 106,898 shares of the oil and gas company’s stock, valued at approximately $125,000. Alambic Investment Management L.P. owned 0.44% of Superior Drilling Products at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Prescott Group Capital Management L.L.C. purchased a new position in Superior Drilling Products during the 4th quarter worth $503,000. Renaissance Technologies LLC boosted its holdings in Superior Drilling Products by 16.9% during the 3rd quarter. Renaissance Technologies LLC now owns 413,282 shares of the oil and gas company’s stock worth $1,318,000 after acquiring an additional 59,799 shares during the last quarter. Vanguard Group Inc boosted its holdings in Superior Drilling Products by 85.1% during the 3rd quarter. Vanguard Group Inc now owns 267,307 shares of the oil and gas company’s stock worth $853,000 after acquiring an additional 122,906 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Superior Drilling Products by 85.1% during the 3rd quarter. Vanguard Group Inc. now owns 267,307 shares of the oil and gas company’s stock worth $853,000 after acquiring an additional 122,906 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in Superior Drilling Products during the 3rd quarter worth $731,000.
A number of research firms have issued reports on SDPI. Roth Capital raised shares of Superior Drilling Products from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $4.00 to $2.00 in a report on Friday. Zacks Investment Research downgraded shares of Superior Drilling Products from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 27th. TheStreet downgraded shares of Superior Drilling Products from a “c” rating to a “d+” rating in a report on Monday, December 10th. Finally, Imperial Capital cut their price objective on shares of Superior Drilling Products from $5.00 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th.
Shares of Superior Drilling Products stock opened at $1.49 on Friday. Superior Drilling Products Inc has a 52-week low of $1.02 and a 52-week high of $5.05.
Superior Drilling Products (NYSEAMERICAN:SDPI) last announced its quarterly earnings results on Thursday, March 7th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $3.48 million during the quarter, compared to analysts’ expectations of $4.84 million.
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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; and the refurbishment of polycrystalline diamond compact drill bits for the oil, natural gas, and mining service industries.
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