On March 07, 2022, shares of Superior Drilling Products Inc. (SDPI) surged high in the after hours. The company is set to declare its 2021 Q4 financial results o March 11, before the market opens. There is no other news or recent SEC filing from the company.
In the regular trading on Monday, the stock remained in the green with a gain of 14.05% at 4.77 million shares. At a heavy volume of 1,636% of the average, the stock closed the session at $1.38 per share. In the following after-hours session, the stock surged up to a price of $1.93 per share. Hence, SDPI added a huge 39.86% or $0.55 in the after-hours on Monday.
The drilling and completion tool technology company, Superior Drilling Products Inc. has a market capitalization of $34.08 million. Currently, the company has 28.17 million shares outstanding in the market.
SDPI stock Movement
SDPI stock has been going up and down and recently entered a bullish trend on March 04, 2022. As there is no recent news other than the upcoming earnings, the stock seems to be moving due to external factors. Social media discussions and stock sentiment might be the driver behind the recent bullishness. Moreover, the ongoing market situation might also have a role in its movement; as the Russia-Ukraine conflict continues, the energy market has seen increased volatility.
In the past five days, the stock has increased by 28.97% while adding 64.09% last month. Furthermore, SDPI stands at a year-to-date gain of a huge 88.96% while it was able to go up by 38.62% last year.
Recent Participation
On December 09, the company participated in the Sidoti Virtual Microcap Conference. The company’s Chairman and CEO, Troy Meier, and Chief Financial Officer, Christopher Cashion presented at the conference. They also participated in investor meetings during the event.
SDPI’s Q3 Financials
On November 12, the company reported its financial results for the third quarter of 2021, which ended on September 30, 2021.
In the third quarter of 2021, the company’s revenue increased by $2.0 million or 130% YOY to $3.6 million. North American revenue and International revenue saw an increase of 172% and 22% YOY, respectively.
Additionally, SDPI reached break-even earnings per diluted share as the net loss was $6 thousand in Q3 2021. Comparatively, the company had a net loss of $1.7 million in the year-ago quarter.
The company ended the quarter with cash of $2.5 million on September 30, 2021.
