Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

Other equities research analysts have also recently issued reports about the stock. Roth Capital set a $2.00 price objective on shares of Superior Drilling Products and gave the company a “buy” rating in a research report on Monday, August 14th. Imperial Capital initiated coverage on shares of Superior Drilling Products in a research report on Wednesday, August 23rd. They issued an “outperform” rating and a $2.00 price objective on the stock. Finally, ValuEngine raised shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th.

Superior Drilling Products (SDPI) opened at $1.13 on Friday. Superior Drilling Products has a 52-week low of $0.59 and a 52-week high of $1.41.

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 for the quarter. The firm had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.13 million.

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A hedge fund recently raised its stake in Superior Drilling Products stock. Adirondack Research & Management Inc. boosted its stake in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 616,733 shares of the oil and gas company’s stock after acquiring an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned 2.55% of Superior Drilling Products worth $493,000 as of its most recent SEC filing.

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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