Analysts at StockNews.com began coverage on shares of Superior Drilling Products (NYSE:SDPI – Get Rating) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the stock.
Separately, EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $2.00 target price on shares of Superior Drilling Products in a research note on Monday, March 13th.
Superior Drilling Products Stock Performance
SDPI opened at $1.18 on Tuesday. The stock has a market cap of $34.52 million, a PE ratio of 14.75 and a beta of 0.12. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. Superior Drilling Products has a 1 year low of $0.62 and a 1 year high of $1.24. The stock’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $0.99.
Insider Buying and Selling
In other Superior Drilling Products news, major shareholder Jeffrey E. Eberwein acquired 50,000 shares of the business’s stock in a transaction dated Friday, March 24th. The stock was bought at an average cost of $0.84 per share, with a total value of $42,000.00. Following the completion of the transaction, the insider now directly owns 2,250,000 shares in the company, valued at approximately $1,890,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders bought 110,325 shares of company stock worth $99,770. 50.10% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Superior Drilling Products
Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Superior Drilling Products during the 2nd quarter valued at about $43,000. Renaissance Technologies LLC boosted its position in shares of Superior Drilling Products by 11.0% during the 1st 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. Finally, Vanguard Group Inc. boosted its position in shares of Superior Drilling Products by 120.9% during the 1st quarter. Vanguard Group Inc. now owns 451,851 shares of the company’s stock valued at $479,000 after purchasing an additional 247,328 shares in the last quarter. Institutional investors and hedge funds own 16.36% of the company’s stock.
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.
Read More
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