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

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

Superior Drilling Products Stock Performance

Shares of SDPI opened at $1.13 on Thursday. The company has a market cap of $34.34 million, a PE ratio of 4.71 and a beta of 0.04. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $0.88 and a 200-day moving average price of $0.79. Superior Drilling Products has a 12-month low of $0.58 and a 12-month high of $2.21.

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

Hedge Funds Weigh In On Superior Drilling Products

A number of large investors have recently modified their holdings of SDPI. Jane Street Group LLC purchased a new position in shares of Superior Drilling Products during the 2nd quarter valued at about $43,000. Acadian Asset Management LLC purchased a new position in shares of Superior Drilling Products during the 3rd quarter valued at about $72,000. Citadel Advisors LLC purchased a new position in shares of Superior Drilling Products during the 2nd quarter valued at about $85,000. CreativeOne Wealth LLC purchased a new position in shares of Superior Drilling Products during the 3rd quarter valued at about $151,000. Finally, Renaissance Technologies LLC raised its holdings 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 valued at $348,000 after buying an additional 38,554 shares in the last quarter. 43.44% of the stock is owned by hedge funds and other institutional investors.

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.