Superior Drilling Products (SDPI) Downgraded by Zacks Investment Research

Superior Drilling Products (NYSEAMERICAN:SDPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

A number of other brokerages also recently 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 assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1.83.

Shares of Superior Drilling Products (NYSEAMERICAN SDPI) traded up $0.08 during trading hours on Tuesday, hitting $1.39. The stock had a trading volume of 104,000 shares, compared to its average volume of 61,414. The firm has a market capitalization of $33.31, a price-to-earnings ratio of -15.44 and a beta of -1.97. Superior Drilling Products has a 12-month low of $0.59 and a 12-month high of $1.77.

Superior Drilling Products (NYSEAMERICAN:SDPI) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $4.45 million during the quarter, compared to analyst estimates of $4.13 million.

An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. increased its stake in shares of Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 616,733 shares of the oil and gas company’s stock after buying an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned about 2.55% of Superior Drilling Products worth $493,000 at the end of the most recent reporting period.

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

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