Superior Drilling Products, Inc. (SDPI) Announces Quarterly Earnings Results
Superior Drilling Products, Inc. (NASDAQ:SDPI) released its quarterly earnings data on Friday. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. The business had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $3.80 million.
Superior Drilling Products (NASDAQ:SDPI) traded down 8.627% during midday trading on Friday, reaching $0.699. The company’s stock had a trading volume of 140,762 shares. Superior Drilling Products has a 12-month low of $0.59 and a 12-month high of $1.50. The firm’s market cap is $10.51 million. The company’s 50-day moving average is $0.70 and its 200 day moving average is $0.84.
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In other news, major shareholder Lone Star Value Management Llc sold 220,281 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $0.82, for a total transaction of $180,630.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 60,597 shares of company stock worth $46,267.
Separately, Zacks Investment Research upgraded Superior Drilling Products from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a report on Wednesday, July 26th.
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 for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.
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