SDPI - Superior Drilling Products pops on plan to explore strategic alternatives

2023-05-22 13:21:37 ET

Superior Drilling Products ( NYSE: SDPI ) +6% in Monday's trading after saying it hired Piper Sandler as its financial advisor to " investigate a range of strategic alternatives with the intent to maximize shareholder value."

Without setting a timetable, Superior Drilling ( SDPI ) said its board will consider alternatives including sales, acquisitions, mergers, divestiture of assets, or other strategic transactions.

Superior Drilling ( SDPI ) stock has traded in the $0.85-$1.15 range since the start of this year.

The company recently reported Q1 GAAP earnings of $0.05/share on revenues of $6M .

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