Superior Drilling Products, Inc. (NASDAQ:SDPI) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Superior Drilling Products, Inc. (NASDAQ:SDPI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $0.75 target price on the oil and gas company’s stock.
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. “
Shares of Superior Drilling Products (NASDAQ:SDPI) opened at 0.77 on Wednesday. The company’s market capitalization is $11.58 million. The firm has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.86. Superior Drilling Products has a 52 week low of $0.59 and a 52 week high of $1.95.
Superior Drilling Products (NASDAQ:SDPI) last announced its earnings results on Friday, May 12th. The oil and gas company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The company had revenue of $3.37 million during the quarter, compared to the consensus estimate of $3.30 million. Equities analysts forecast that Superior Drilling Products will post ($0.02) EPS for the current year.
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In other news, insider Lone Star Value Management Llc sold 200,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $0.77, for a total transaction of $154,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 60,597 shares of company stock valued at $46,267 in the last quarter.
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