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 Wednesday morning. The brokerage issued a buy rating on the stock.

Superior Drilling Products Price Performance

Superior Drilling Products stock opened at $1.01 on Wednesday. The stock has a market cap of $30.69 million, a price-to-earnings ratio of 7.77 and a beta of 0.06. The company has a quick ratio of 1.18, a current ratio of 1.79 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.05. Superior Drilling Products has a 52 week low of $0.58 and a 52 week high of $1.47.

Superior Drilling Products (NYSE:SDPI) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $4.95 million for the quarter. Superior Drilling Products had a net margin of 20.88% and a return on equity of 31.10%.

Institutional Trading of Superior Drilling Products

An institutional investor recently bought a new position in Superior Drilling Products stock. Black Maple Capital Management LP purchased a new stake in shares of Superior Drilling Products, Inc. (NYSE:SDPI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 169,453 shares of the company’s stock, valued at approximately $155,000. Black Maple Capital Management LP owned approximately 0.56% of Superior Drilling Products as of its most recent SEC filing. Hedge funds and other institutional investors own 43.44% of the company’s stock.

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.