Superior Drilling Products, Inc. (SDPI) Downgraded to Sell at Zacks Investment Research
According to Zacks, “Superior Drilling Products, Inc. operates as a manufacturer and remanufacturer of PDC (polycrystalline diamond compact) drill bits and drill string tools for the oil, natural gas and mining services industries. It also provides manufacturing, leasing, and refurbishing of drill string tools to oil field services clients. Superior Drilling Products, Inc. is based in United States. “
Separately, Wunderlich reduced their target price on Superior Drilling Products from $3.00 to $2.00 and set a buy rating on the stock in a research report on Tuesday, October 4th.
Shares of Superior Drilling Products (NASDAQ:SDPI) traded down 1.87% during midday trading on Thursday, reaching $1.05. The company had a trading volume of 14,134 shares. The company’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.19. Superior Drilling Products has a 52 week low of $0.77 and a 52 week high of $2.72. The company’s market capitalization is $15.79 million.
Superior Drilling Products (NASDAQ:SDPI) last posted its earnings results on Monday, November 14th. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. On average, equities research analysts predict that Superior Drilling Products will post ($0.41) earnings per share for the current fiscal year.
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In other Superior Drilling Products news, insider Jeffrey E. Eberwein sold 1,725,889 shares of Superior Drilling Products stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $0.84, for a total value of $1,449,746.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jeffrey E. Eberwein bought 50,000 shares of Superior Drilling Products stock in a transaction on Friday, October 21st. The stock was acquired at an average price of $0.87 per share, for a total transaction of $43,500.00. The disclosure for this purchase can be found here.
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