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

Stock analysts at StockNews.com began coverage on shares of Superior Drilling Products (NYSE:SDPI) in a report issued on Thursday. The firm set a “buy” rating on the stock.

Superior Drilling Products Stock Performance

Superior Drilling Products stock opened at $1.24 on Thursday. The firm has a 50 day simple moving average of $0.89 and a 200-day simple moving average of $0.79. The stock has a market cap of $37.53 million, a price-to-earnings ratio of 5.15 and a beta of 0.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.29 and a quick ratio of 1.59. Superior Drilling Products has a 1-year low of $0.58 and a 1-year high of $2.21.

Superior Drilling Products (NYSE:SDPI) last issued 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 during the quarter. Superior Drilling Products had a return on equity of 62.62% and a net margin of 35.46%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of Superior Drilling Products during the third quarter valued at about $72,000. CreativeOne Wealth LLC acquired a new stake in Superior Drilling Products in the 3rd quarter valued at approximately $151,000. Renaissance Technologies LLC raised its position in Superior Drilling Products by 3.5% in the second quarter. Renaissance Technologies LLC now owns 403,184 shares of the company’s stock valued at $496,000 after purchasing an additional 13,636 shares during the period. Vanguard Group Inc. lifted its stake in Superior Drilling Products by 120.9% during the first 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. Finally, Citadel Advisors LLC purchased a new position in shares of Superior Drilling Products during the second quarter worth $85,000. Institutional investors and hedge funds own 43.44% of the company’s stock.

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.