The Vanguard Group, Inc. recently announced the acquisition of new stake in Superior Drilling Products Inc. (AMEX:SDPI). The institutional investor has increased its shareholding in the Energy company by 2.52% to 0.46 million shares with purchase of 11300.0 shares. This fresh investment now brings its stake to 1.57% valued currently at $0.42 million. In addition, Virtu Financial BD LLC raised its holdings by 21139.0 to 31615.0 shares.
With over 0.11 million Superior Drilling Products Inc. (SDPI) shares trading Monday and a closing price of $1.08 on the day, the dollar volume was approximately $0.12 million. The shares have shown a positive half year performance of 25.00% and its price on 01/23/23 lost nearly -0.46%. Currently, there are 28.85M common shares owned by the public and among those 9.03M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SDPI have a consensus price objective of $2.00. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $2.00. The average price target is 46.0% above its recent price level and an upside to the estimated low will see the stock gain 46.0% over that period. But an upside of 46.0% will see the stock hit the forecast high price target while median target price for the stock is $2.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 199,873 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Superior Drilling Products Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Bridgeway Ultra Small Company Mar. Vanguard Total Stock Market Index owns 0.26 million shares of the company’s stock, all valued at over $0.24 million. Vanguard Extended Market Index Fu sold 1467.0 shares to see its total holdings shrink to 0.2 million shares valued at over $0.18 million and representing 0.68% of the shares outstanding. Bridgeway Ultra Small Company Mar now owns shares totaling to 0.57% of the shares outstanding.
Shares of Superior Drilling Products Inc. (AMEX: SDPI) opened at $1.07, down -$0.01 from a prior closing price of $1.08. However, the script later moved the day high at 1.1000, down -0.46%. The company’s stock has a 5-day price change of 2.38% and 59.09% over the past three months. SDPI shares are trading 16.96% year to date (YTD), with the 12-month market performance up to 37.64% higher. It has a 12-month low price of $0.62 and touched a high of $1.84 over the same period. SDPI has an average intraday trading volume of 65.50K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.25%, 22.14%, and 19.60% respectively.
Institutional ownership of Superior Drilling Products Inc. (AMEX: SDPI) shares accounts for 5.40% of the company’s 28.85M shares outstanding. Mutual fund holders own 2.62%, while other institutional holders and individual stakeholders account for 62.59% and 2.58% respectively.
It has a market capitalization of $30.96M and a beta (3y monthly) value of 0.13. The stock’s trailing 12-month PE ratio is 21.94, while the earnings-per-share (ttm) stands at $0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.71% over the week and 6.03% over the month.
Analysts forecast that Superior Drilling Products Inc. (SDPI) will achieve an EPS of $0.03 for the current quarter, $0.03 for the next quarter and $0.21 for 2023. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 85.10%, and 83.33% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Superior Drilling Products Inc. (SDPI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
ROTH Capital coverage for the Superior Drilling Products Inc. (SDPI) stock in a research note released on March 08, 2019 offered a Buy rating with a price target of $2. Imperial Capital was of a view on November 28, 2018 that the stock is Outperform, while Imperial Capital gave the stock Outperform rating on October 18, 2018, issuing a price target of $3- $5. Wunderlich on their part issued Buy rating on October 04, 2016.
