Superior Drilling Products (NYSE:SDPI) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research note issued to investors on Thursday morning. The firm issued a buy rating on the stock.

Superior Drilling Products Price Performance

NYSE:SDPI opened at $1.24 on Thursday. The stock has a 50 day moving average price of $0.89 and a 200 day moving average price of $0.79. The stock has a market cap of $37.68 million, a PE ratio of 5.17 and a beta of 0.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.59 and a current ratio of 2.29. Superior Drilling Products has a one year low of $0.58 and a one year high of $2.21.

Superior Drilling Products (NYSE:SDPI) last issued its earnings results on Thursday, March 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $4.27 million during the quarter. Superior Drilling Products had a return on equity of 62.62% and a net margin of 35.46%.

Institutional Trading of Superior Drilling Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Superior Drilling Products during the third quarter worth $72,000. CreativeOne Wealth LLC acquired a new stake in shares of Superior Drilling Products during the 3rd quarter worth about $151,000. Renaissance Technologies LLC increased its position in shares of Superior Drilling Products by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 403,184 shares of the company’s stock worth $496,000 after purchasing an additional 13,636 shares during the last quarter. Vanguard Group Inc. raised its holdings in Superior Drilling Products by 120.9% in the 1st quarter. Vanguard Group Inc. now owns 451,851 shares of the company’s stock valued at $479,000 after buying an additional 247,328 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Superior Drilling Products during the second quarter worth about $85,000. Institutional investors and hedge funds own 43.44% of the company’s stock.

About Superior Drilling Products

Superior Drilling Products, Inc, a drilling and completion tool technology company, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in North America and internationally. Its drilling solutions include Drill-N-Ream, a dual-section wellbore conditioning tool; Strider, a drill string oscillation system technology; and V-Stream, an advanced conditioning system.