Superior Drilling Products (NYSEAMERICAN:SDPI) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Superior Drilling Products (NYSEAMERICAN:SDPI) from a buy rating to a sell rating in a research note published on Tuesday, February 20th.

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 research firms have also weighed in on SDPI. TheStreet lowered Superior Drilling Products from a c- rating to a d+ rating in a research note on Tuesday, January 16th. ValuEngine raised Superior Drilling Products from a strong sell rating to a sell rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $1.83.

Shares of Superior Drilling Products (NYSEAMERICAN SDPI) traded down $0.09 during mid-day trading on Tuesday, reaching $1.56. The company had a trading volume of 13,750 shares, compared to its average volume of 80,235. 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 $40.12, a price-to-earnings ratio of -165.00 and a beta of -1.67.

Superior Drilling Products (NYSEAMERICAN:SDPI) last issued 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 business had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.71 million.

A hedge fund recently raised its stake in Superior Drilling Products stock. Adirondack Research & Management Inc. grew its holdings in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 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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