Zacks Investment Research Lowers Superior Drilling Products, Inc. (SDPI) to Sell
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, Wunderlich reiterated a “buy” rating and issued a $2.00 price target (down previously from $3.00) on shares of Superior Drilling Products in a report on Tuesday.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/zacks-investment-research-lowers-superior-drilling-products-inc-sdpi-to-sell.html
Superior Drilling Products (NASDAQ:SDPI) traded down 7.0909% during mid-day trading on Friday, reaching $0.8687. 164,031 shares of the company’s stock traded hands. The firm’s market cap is $13.07 million. The firm has a 50 day moving average of $1.06 and a 200 day moving average of $1.51. Superior Drilling Products has a 1-year low of $0.81 and a 1-year high of $2.72.
Superior Drilling Products (NASDAQ:SDPI) last released its quarterly earnings results on Friday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.10. Analysts forecast that Superior Drilling Products will post ($0.35) EPS for the current year.
In other news, major shareholder Jeffrey E. Eberwein purchased 511,565 shares of the company’s stock in a transaction on Friday, September 30th. The shares were purchased at an average cost of $1.01 per share, with a total value of $516,680.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jeffrey E. Eberwein purchased 18,655 shares of the company’s stock in a transaction on Monday, August 8th. The shares were purchased at an average cost of $1.38 per share, for a total transaction of $25,743.90. The disclosure for this purchase can be found here.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Superior Drilling Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Drilling Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.