StockNews.com Initiates Coverage on Superior Drilling Products (NYSE:SDPI)

Posted by Doug Madison on Jul 1st, 2024

StockNews.com initiated coverage on shares of Superior Drilling Products (NYSE:SDPI – Get Free Report) in a report released on Saturday. The brokerage set a “buy” rating on the stock.

Superior Drilling Products Stock Up 6.6 %

Shares of Superior Drilling Products stock opened at $1.30 on Friday. The firm has a market cap of $39.51 million, a price-to-earnings ratio of 10.00 and a beta of 0.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.79 and a quick ratio of 1.18. Superior Drilling Products has a 1 year low of $0.58 and a 1 year high of $2.21. The company has a 50-day moving average of $1.25 and a 200 day moving average of $0.98.

Superior Drilling Products (NYSE:SDPI – Get Free Report) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $4.95 million for the quarter. Superior Drilling Products had a net margin of 20.88% and a return on equity of 31.10%.

Hedge Funds Weigh In On Superior Drilling Products

A hedge fund recently bought a new stake in Superior Drilling Products stock. Black Maple Capital Management LP purchased a new stake in shares of Superior Drilling Products, Inc. (NYSE:SDPI – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 169,453 shares of the company’s stock, valued at approximately $155,000. Black Maple Capital Management LP owned approximately 0.56% of Superior Drilling Products at the end of the most recent reporting period. 43.44% of the stock is currently owned by institutional investors and hedge funds.

About Superior Drilling Products

(Get Free Report)

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.