Superior Drilling Products (SDPI) Lowered to “Sell” at Zacks Investment Research
Superior Drilling Products (NYSEAMERICAN:SDPI) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
SDPI has been the subject of a number of other research reports. TheStreet lowered shares of Superior Drilling Products from a “c-” rating to a “d+” rating in a report on Tuesday, January 16th. ValuEngine upgraded shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Superior Drilling Products has a consensus rating of “Hold” and an average price target of $1.83.
A hedge fund recently raised its stake in Superior Drilling Products stock. Adirondack Research & Management Inc. grew its holdings in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 616,733 shares of the oil and gas company’s stock after purchasing an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned approximately 2.55% of Superior Drilling Products worth $493,000 at the end of the most recent reporting period.
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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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