Superior Drilling Products (SDPI) Upgraded to “Buy” at Zacks Investment Research

Superior Drilling Products (NYSEAMERICAN:SDPI) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $1.50 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 0.67% from the company’s current price.

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 analysts also recently commented on the company. ValuEngine raised Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. TheStreet raised Superior Drilling Products from a “d” rating to a “c-” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1.83.

Shares of Superior Drilling Products (SDPI) traded up $0.04 during trading hours on Thursday, reaching $1.49. The company’s stock had a trading volume of 306,051 shares, compared to its average volume of 62,112. The company has a market capitalization of $35.25, a price-to-earnings ratio of -16.56 and a beta of -1.97. Superior Drilling Products has a 1-year low of $0.59 and a 1-year high of $1.77.

Superior Drilling Products (NYSEAMERICAN:SDPI) last announced 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 the consensus estimate of $4.13 million.

An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. raised its stake in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 616,733 shares of the oil and gas company’s stock after purchasing an additional 595,733 shares during the quarter. 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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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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