Superior Drilling Products (NYSEAMERICAN:SDPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

A number of other research firms have also recently issued reports on SDPI. TheStreet raised Superior Drilling Products from a “d” rating to a “c-” rating in a research report on Friday, December 1st. ValuEngine raised Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $1.75.

Shares of Superior Drilling Products (NYSEAMERICAN SDPI) traded down $0.03 during midday trading on Tuesday, reaching $1.31. The company had a trading volume of 42,900 shares, compared to its average volume of 61,040. Superior Drilling Products has a 1 year low of $0.59 and a 1 year high of $1.77. The firm has a market capitalization of $33.31, a PE ratio of -14.56 and a beta of -1.97.

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 (EPS) for the quarter. The business had revenue of $4.45 million during the quarter, compared to analyst estimates of $4.13 million.

An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. increased its position in shares of Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and 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 period. Adirondack Research & Management Inc. owned approximately 2.55% of Superior Drilling Products worth $493,000 as of its most recent filing with the Securities and 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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