Superior Drilling Products (NYSEAMERICAN:SDPI) Given a $1.00 Price Target by Roth Capital Analysts

Superior Drilling Products (NYSEAMERICAN:SDPI) has been given a $1.00 target price by research analysts at Roth Capital in a report released on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Roth Capital’s target price would indicate a potential upside of 26.58% from the stock’s current price.

A number of other research firms have also commented on SDPI. Imperial Capital dropped their price target on shares of Superior Drilling Products from $2.00 to $1.50 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Superior Drilling Products from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Superior Drilling Products in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1.25.

Shares of NYSEAMERICAN SDPI traded down $0.02 during mid-day trading on Monday, reaching $0.79. 148,300 shares of the company traded hands, compared to its average volume of 110,229. Superior Drilling Products has a fifty-two week low of $0.78 and a fifty-two week high of $5.05.

Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $4.54 million during the quarter, compared to analysts’ expectations of $5.30 million.

A number of hedge funds and other institutional investors have recently modified their holdings of SDPI. JPMorgan Chase & Co. acquired a new position in shares of Superior Drilling Products during the second quarter valued at about $670,000. Punch & Associates Investment Management Inc. grew its position in Superior Drilling Products by 50.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 386,200 shares of the oil and gas company’s stock worth $510,000 after buying an additional 129,200 shares in the last quarter. Renaissance Technologies LLC grew its position in Superior Drilling Products by 24.6% during the second quarter. Renaissance Technologies LLC now owns 504,446 shares of the oil and gas company’s stock worth $509,000 after buying an additional 99,700 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Superior Drilling Products during the fourth quarter worth about $101,000.

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. The company manufactures and refurbishes polycrystalline diamond compact drill bits for an oil field services company.

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