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

StockNews.com began coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research report report published on Monday. The firm issued a buy rating on the stock.

Superior Drilling Products Price Performance

Shares of NYSE SDPI opened at $0.91 on Monday. The firm has a market cap of $27.78 million and a P/E ratio of 3.81. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.33. Superior Drilling Products has a 1-year low of $0.58 and a 1-year high of $2.21. The business’s 50 day moving average is $0.78 and its 200-day moving average is $0.76.

Superior Drilling Products (NYSE:SDPI) last posted its quarterly earnings data 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 firm had revenue of $4.27 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in shares of Superior Drilling Products in the 2nd quarter worth about $43,000. Acadian Asset Management LLC bought a new position in shares of Superior Drilling Products in the 3rd quarter worth about $72,000. Citadel Advisors LLC bought a new position in shares of Superior Drilling Products in the 2nd quarter worth about $85,000. CreativeOne Wealth LLC bought a new position in shares of Superior Drilling Products in the 3rd quarter worth about $151,000. Finally, Renaissance Technologies LLC increased its position in Superior Drilling Products by 11.0% in the 1st quarter. Renaissance Technologies LLC now owns 389,548 shares of the company’s stock valued at $348,000 after buying an additional 38,554 shares in the last quarter. 43.44% of the stock is owned by institutional investors and hedge funds.

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.