Superior Drilling Products (NYSEAMERICAN:SDPI) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $1.50 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 0.67% from the company’s previous close.
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 equities research analysts have also commented on SDPI. TheStreet upgraded Superior Drilling Products from a “d” rating to a “c-” rating in a research report on Friday, December 1st. ValuEngine upgraded Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. One investment 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 a consensus price target of $1.83.
Superior Drilling Products (NYSEAMERICAN:SDPI) traded up $0.04 during midday trading on Thursday, hitting $1.49. The company’s stock had a trading volume of 306,051 shares, compared to its average volume of 62,112. Superior Drilling Products has a 1 year low of $0.59 and a 1 year high of $1.77. The company has a market cap of $35.25, a price-to-earnings ratio of -16.56 and a beta of -1.97.
Superior Drilling Products (NYSEAMERICAN:SDPI) last released its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.02 EPS for the quarter. The company had revenue of $4.45 million during the quarter, compared to the consensus estimate of $4.13 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 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 616,733 shares of the oil and gas company’s stock after acquiring an additional 595,733 shares during the period. Adirondack Research & Management Inc. owned 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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