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

StockNews.com initiated coverage on shares of Superior Drilling Products (NYSE:SDPIFree Report) in a research report released on Tuesday. The firm issued a buy rating on the stock.

Superior Drilling Products Stock Up 8.4 %

NYSE:SDPI opened at $1.00 on Tuesday. The firm has a market cap of $30.36 million, a P/E ratio of 4.16 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 fifty-two week low of $0.58 and a fifty-two week high of $2.21. The firm has a 50-day simple moving average of $0.79 and a two-hundred day simple moving average of $0.76.

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

Hedge Funds Weigh In On Superior Drilling Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Superior Drilling Products during the second quarter valued at approximately $43,000. Citadel Advisors LLC purchased a new position in Superior Drilling Products during the second quarter valued at approximately $85,000. Acadian Asset Management LLC purchased a new position in Superior Drilling Products during the third quarter valued at approximately $72,000. CreativeOne Wealth LLC purchased a new position in Superior Drilling Products during the third quarter valued at approximately $151,000. Finally, Renaissance Technologies LLC lifted its holdings in Superior Drilling Products by 11.0% during the first quarter. Renaissance Technologies LLC now owns 389,548 shares of the company’s stock valued at $348,000 after purchasing an additional 38,554 shares in the last quarter. Hedge funds and other institutional investors own 43.44% of the company’s stock.

About Superior Drilling Products

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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.

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