Superior Drilling Products (SDPI) Upgraded at Zacks Investment Research

Superior Drilling Products (NYSEAMERICAN:SDPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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. “

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Several other research firms have also issued reports on SDPI. TheStreet lowered shares of Superior Drilling Products from a “c-” rating to a “d+” rating in a research report on Tuesday, January 16th. ValuEngine raised shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $1.83.

Shares of Superior Drilling Products (NYSEAMERICAN:SDPI) opened at $1.58 on Thursday. Superior Drilling Products has a 12 month low of $0.59 and a 12 month high of $1.77. The company has a market cap of $36.47, a P/E ratio of -17.56 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) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.71 million.

An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. increased its position in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 616,733 shares of the oil and gas company’s stock after purchasing an additional 595,733 shares during the period. 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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