Superior Drilling Products (NYSE:SDPI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research report issued on Thursday. The firm set a “buy” rating on the stock.

Superior Drilling Products Stock Performance

NYSE SDPI opened at $1.13 on Thursday. The stock has a market capitalization of $34.34 million, a price-to-earnings ratio of 4.71 and a beta of 0.04. Superior Drilling Products has a twelve month low of $0.58 and a twelve month high of $2.21. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $0.88 and a 200 day moving average of $0.79.

Superior Drilling Products (NYSE:SDPI) last announced its earnings results on Thursday, March 7th. The company reported $0.18 EPS for the quarter. Superior Drilling Products had a return on equity of 62.62% and a net margin of 35.46%. The business had revenue of $4.27 million during the quarter.

Hedge Funds Weigh In On Superior Drilling Products

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Superior Drilling Products in the second quarter valued at approximately $43,000. Acadian Asset Management LLC purchased a new stake in shares of Superior Drilling Products in the third quarter valued at approximately $72,000. Citadel Advisors LLC purchased a new stake in shares of Superior Drilling Products in the second quarter valued at approximately $85,000. CreativeOne Wealth LLC purchased a new stake in shares of Superior Drilling Products in the third quarter valued at approximately $151,000. Finally, Renaissance Technologies LLC grew its position in shares of Superior Drilling Products by 11.0% in the first quarter. Renaissance Technologies LLC now owns 389,548 shares of the company’s stock valued at $348,000 after purchasing an additional 38,554 shares in the last quarter. Institutional investors and hedge funds own 43.44% of the company’s stock.

About Superior Drilling Products

Superior Drilling Products, Inc, a drilling and completion tool technology company, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in North America and internationally. Its drilling solutions include Drill-N-Ream, a dual-section wellbore conditioning tool; Strider, a drill string oscillation system technology; and V-Stream, an advanced conditioning system.