Zacks Investment Research lowered 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 downgraded Superior Drilling Products from a c- rating to a d+ rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $1.83.
Shares of Superior Drilling Products (SDPI) opened at $1.50 on Wednesday. Superior Drilling Products has a 52 week low of $0.59 and a 52 week high of $1.77. The firm has a market capitalization of $40.12, a PE ratio of -150.00 and a beta of -1.67.
Superior Drilling Products (NYSEAMERICAN:SDPI) last announced its quarterly earnings results on Thursday, March 8th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $3.73 million during 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. increased its stake in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. 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 2.55% of Superior Drilling Products worth $493,000 as of its most recent filing with the Securities & Exchange Commission.
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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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