Short Interest in Superior Drilling Products Inc (NYSEAMERICAN:SDPI) Declines By 46.9%

Superior Drilling Products Inc (NYSEAMERICAN:SDPI) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 22,600 shares, a drop of 46.9% from the June 30th total of 42,600 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 121,500 shares, the days-to-cover ratio is presently 0.2 days.

SDPI opened at $0.63 on Friday. Superior Drilling Products has a 12-month low of $0.20 and a 12-month high of $1.05.

Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings results on Friday, May 8th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $5.36 million for the quarter, compared to analysts’ expectations of $5.00 million.

Separately, Dougherty & Co lowered shares of Superior Drilling Products from a “buy” rating to a “neutral” rating in a research report on Monday, April 13th.

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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