Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 115,898 shares, a decline of 31.0% from the November 15th total of 168,068 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 135,042 shares, the days-to-cover ratio is presently 0.9 days.

Shares of Superior Drilling Products (SDPI) opened at $1.16 on Friday. Superior Drilling Products has a fifty-two week low of $0.59 and a fifty-two week high of $1.35.

Superior Drilling Products (NYSEAMERICAN:SDPI) last announced its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $4.45 million during the quarter, compared to analysts’ expectations of $4.13 million.

A hedge fund recently raised its stake in Superior Drilling Products stock. Adirondack Research & Management Inc. lifted its position in shares of Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 616,733 shares of the oil and gas company’s stock after buying an additional 595,733 shares during the period. Adirondack Research & Management Inc. owned 2.55% of Superior Drilling Products worth $493,000 as of its most recent SEC filing.

A number of analysts recently commented on the stock. ValuEngine raised shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of Superior Drilling Products from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Imperial Capital assumed coverage on shares of Superior Drilling Products in a report on Wednesday, August 23rd. They set an “outperform” rating and a $2.00 price objective on the stock. Finally, TheStreet raised shares of Superior Drilling Products from a “d” rating to a “c-” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.75.

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About Superior Drilling Products

Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.

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