Superior Drilling Products Inc (NYSEAMERICAN:SDPI) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 80,400 shares, a decrease of 37.1% from the May 15th total of 127,800 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 132,200 shares, the short-interest ratio is currently 0.6 days.
Shares of SDPI stock traded up $0.01 on Wednesday, hitting $1.04. 76,500 shares of the stock traded hands, compared to its average volume of 133,211. Superior Drilling Products has a 1-year low of $0.88 and a 1-year high of $5.05.
Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $5.04 million during the quarter, compared to analyst estimates of $5.24 million.
Several hedge funds have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its position in shares of Superior Drilling Products by 50.3% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 386,200 shares of the oil and gas company’s stock valued at $510,000 after acquiring an additional 129,200 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Superior Drilling Products during the 4th quarter valued at approximately $101,000. Dimensional Fund Advisors LP raised its position in shares of Superior Drilling Products by 181.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 98,587 shares of the oil and gas company’s stock valued at $115,000 after acquiring an additional 63,502 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Superior Drilling Products during the 4th quarter valued at approximately $125,000. Finally, Northern Trust Corp raised its position in shares of Superior Drilling Products by 84.8% during the 4th quarter. Northern Trust Corp now owns 28,526 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 13,091 shares in the last quarter.
SDPI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Superior Drilling Products from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 27th. Roth Capital raised Superior Drilling Products from a “neutral” rating to a “buy” rating and cut their target price for the company from $4.00 to $2.00 in a research report on Friday, March 8th. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Superior Drilling Products in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Superior Drilling Products presently has a consensus rating of “Buy” and a consensus price target of $2.08.
About Superior Drilling Products
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. The company manufactures and refurbishes polycrystalline diamond compact drill bits for an oil field services company.
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