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

StockNews.com initiated coverage on shares of Superior Drilling Products (NYSE:SDPI) in a research note released on Thursday morning. The firm issued a buy rating on the stock.

Superior Drilling Products Stock Up 9.7 %

Shares of NYSE:SDPI opened at $1.24 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.29 and a quick ratio of 1.59. The firm has a market capitalization of $37.68 million, a PE ratio of 5.17 and a beta of 0.04. The firm’s 50-day moving average is $0.89 and its two-hundred day moving average is $0.79. Superior Drilling Products has a 1 year low of $0.58 and a 1 year high of $2.21.

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

Institutional Trading of Superior Drilling Products

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Superior Drilling Products by 3.5% during the second quarter. Renaissance Technologies LLC now owns 403,184 shares of the company’s stock worth $496,000 after buying an additional 13,636 shares during the period. Jane Street Group LLC purchased a new position in Superior Drilling Products in the second quarter valued at approximately $43,000. Citadel Advisors LLC purchased a new position in Superior Drilling Products in the second quarter valued at approximately $85,000. Acadian Asset Management LLC purchased a new position in Superior Drilling Products in the third quarter valued at approximately $72,000. Finally, CreativeOne Wealth LLC purchased a new position in Superior Drilling Products in the third quarter valued at approximately $151,000. 43.44% of the stock is currently owned by hedge funds and other institutional investors.

Superior Drilling Products Company Profile

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.