StockNews.com Initiates Coverage on Superior Drilling Products (NYSE:SDPI)

Research analysts at StockNews.com initiated coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research report issued to clients and investors on Saturday. The firm set a “buy” rating on the stock.

Superior Drilling Products Stock Down 2.4 %

Shares of SDPI stock opened at $1.24 on Friday. Superior Drilling Products has a 1 year low of $0.58 and a 1 year high of $2.21. The stock has a market cap of $37.68 million, a PE ratio of 5.17 and a beta of -0.03. The business’s fifty day moving average is $1.00 and its 200-day moving average is $0.83. 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 (NYSE:SDPI) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.18 earnings per share (EPS) 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%.

Institutional Investors Weigh In On Superior Drilling Products

An institutional investor recently bought a new position in Superior Drilling Products stock. Acadian Asset Management LLC purchased a new stake in shares of Superior Drilling Products, Inc. (NYSE:SDPI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 91,398 shares of the company’s stock, valued at approximately $72,000. Acadian Asset Management LLC owned 0.30% of Superior Drilling Products at the end of the most recent quarter. 43.44% of the stock is currently 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.