Superior Drilling Products Inc (SDPI) Short Interest Up 53.4% in January

Superior Drilling Products Inc (NYSEAMERICAN:SDPI) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 310,640 shares, an increase of 53.4% from the January 15th total of 202,539 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 201,195 shares, the days-to-cover ratio is presently 1.5 days.

Several institutional investors have recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. bought a new stake in shares of Superior Drilling Products in the fourth quarter valued at about $503,000. Acadian Asset Management LLC boosted its position in shares of Superior Drilling Products by 82.2% in the fourth quarter. Acadian Asset Management LLC now owns 164,252 shares of the oil and gas company’s stock valued at $192,000 after acquiring an additional 74,083 shares during the period. Virtu Financial LLC bought a new stake in shares of Superior Drilling Products in the fourth quarter valued at about $31,000. Vanguard Group Inc boosted its position in shares of Superior Drilling Products by 85.1% in the third quarter. Vanguard Group Inc now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after acquiring an additional 122,906 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Superior Drilling Products by 85.1% in the third quarter. Vanguard Group Inc. now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after acquiring an additional 122,906 shares during the period.

A number of equities analysts have commented on SDPI shares. Imperial Capital reduced their price objective on shares of Superior Drilling Products from $5.00 to $3.00 and set an “outperform” rating for the company in a research report on Wednesday, November 28th. Zacks Investment Research raised shares of Superior Drilling Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, TheStreet cut shares of Superior Drilling Products from a “c” rating to a “d+” rating in a research report on Monday, December 10th.



SDPI stock traded up $0.01 during midday trading on Monday, reaching $1.52. 80,500 shares of the company were exchanged, compared to its average volume of 159,414. Superior Drilling Products has a one year low of $1.02 and a one year high of $5.05.

Superior Drilling Products (NYSEAMERICAN:SDPI) last announced its earnings results on Thursday, November 8th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). The firm had revenue of $4.77 million for the quarter, compared to the consensus estimate of $5.82 million.

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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; and the refurbishment of polycrystalline diamond compact drill bits for the oil, natural gas, and mining service industries.

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