Zacks Investment Research Downgrades Superior Drilling Products (SDPI) to Strong Sell

Zacks Investment Research cut shares of Superior Drilling Products (NYSEAMERICAN:SDPI) from a hold rating to a strong sell rating in a report issued on Wednesday morning.

According to Zacks, “Superior Drilling Products, Inc. operates as a manufacturer and remanufacturer of PDC (polycrystalline diamond compact) drill bits and drill string tools for the oil, natural gas and mining services industries. It also provides manufacturing, leasing, and refurbishing of drill string tools to oil field services clients. Superior Drilling Products, Inc. is based in United States. “

A number of other research analysts also recently weighed in on the company. TheStreet downgraded Superior Drilling Products from a c rating to a d+ rating in a report on Monday, December 10th. Imperial Capital reduced their price target on Superior Drilling Products from $5.00 to $3.00 and set an outperform rating for the company in a research report on Wednesday, November 28th.

Shares of NYSEAMERICAN:SDPI opened at $1.63 on Wednesday. Superior Drilling Products has a 1 year low of $1.02 and a 1 year high of $5.05.

A number of hedge funds have recently made changes to their positions in SDPI. Prescott Group Capital Management L.L.C. purchased a new position in Superior Drilling Products in the fourth quarter valued at $503,000. Renaissance Technologies LLC increased its stake in shares of Superior Drilling Products by 16.9% during the 3rd quarter. Renaissance Technologies LLC now owns 413,282 shares of the oil and gas company’s stock worth $1,318,000 after purchasing an additional 59,799 shares during the last quarter. Vanguard Group Inc grew its stake in 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 buying an additional 122,906 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 buying an additional 122,906 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in Superior Drilling Products in the 3rd quarter valued at $731,000.

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. 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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