Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 115,898 shares, a decrease of 31.0% from the November 15th total of 168,068 shares. Based on an average daily volume of 135,042 shares, the short-interest ratio is currently 0.9 days. Currently, 1.1% of the company’s shares are short sold.
A number of research firms have recently commented on SDPI. ValuEngine upgraded shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Superior Drilling Products from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Imperial Capital began coverage on shares of Superior Drilling Products in a research note on Wednesday, August 23rd. They issued an “outperform” rating and a $2.00 price objective for the company. Roth Capital set a $2.00 price objective on shares of Superior Drilling Products and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, TheStreet raised shares of 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, one has given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $1.75.
An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. increased its holdings in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 616,733 shares of the oil and gas company’s stock after acquiring an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned approximately 2.55% of Superior Drilling Products worth $493,000 as of its most recent SEC filing.
Superior Drilling Products (NYSEAMERICAN:SDPI) last released its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share for the quarter. The business had revenue of $4.45 million during the quarter, compared to analysts’ expectations of $4.13 million.
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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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