Superior Drilling Products (NYSE:SDPI) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research report report published on Saturday morning. The firm issued a buy rating on the stock.

Superior Drilling Products Trading Down 1.9 %

Shares of Superior Drilling Products stock opened at $0.68 on Friday. Superior Drilling Products has a 12-month low of $0.58 and a 12-month high of $2.21. The stock has a market cap of $20.73 million, a P/E ratio of 9.74 and a beta of 0.42. The company has a quick ratio of 1.17, a current ratio of 2.04 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $0.77 and its 200-day moving average is $1.01.

Institutional Trading of Superior Drilling Products

Several large investors have recently modified their holdings of SDPI. Vanguard Group Inc. grew its holdings in shares of Superior Drilling Products by 120.9% during the 1st quarter. Vanguard Group Inc. now owns 451,851 shares of the company’s stock worth $479,000 after purchasing an additional 247,328 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Superior Drilling Products during the 2nd quarter worth $43,000. Renaissance Technologies LLC lifted its position in shares of Superior Drilling Products by 11.0% during the 1st quarter. Renaissance Technologies LLC now owns 389,548 shares of the company’s stock worth $348,000 after buying an additional 38,554 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Superior Drilling Products during the 2nd quarter worth $85,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of Superior Drilling Products during the 3rd quarter worth $151,000. 14.82% of the stock is owned by institutional investors and hedge funds.

Superior Drilling Products Company Profile

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.