Superior Drilling Products Inc (NYSEAMERICAN:SDPI) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 310,640 shares, a growth of 53.4% from the January 15th total of 202,539 shares. Based on an average daily volume of 201,195 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.8% of the shares of the stock are sold short.
A number of equities analysts have weighed in on SDPI shares. Zacks Investment Research lowered Superior Drilling Products from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Imperial Capital boosted their price objective on Superior Drilling Products from $3.00 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, October 18th. Finally, TheStreet lowered Superior Drilling Products from a “c” rating to a “d+” rating in a research note on Monday, December 10th.
Several institutional investors have recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. acquired a new position in shares of Superior Drilling Products in the 4th quarter valued at $503,000. Renaissance Technologies LLC lifted its stake in shares of Superior Drilling Products by 16.9% in the 3rd quarter. Renaissance Technologies LLC now owns 413,282 shares of the oil and gas company’s stock valued at $1,318,000 after purchasing an additional 59,799 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Superior Drilling Products by 85.1% in the 3rd quarter. Vanguard Group Inc now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 122,906 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Superior Drilling Products by 85.1% in the 3rd quarter. Vanguard Group Inc. now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 122,906 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Superior Drilling Products in the 3rd quarter valued at $731,000.
NYSEAMERICAN SDPI opened at $1.52 on Tuesday. Superior Drilling Products has a fifty-two week low of $1.02 and a fifty-two week high of $5.05.
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Superior Drilling Products Company Profile
Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools; and the refurbishment of polycrystalline diamond compact drill bits for the oil, natural gas, and mining service industries.
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