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Shares of Dril-Quip Inc Fall to a New 52-Week Low

By David Diaz

Shares of Dril-Quip Inc (NYSE:DRQ) traded today at $40.50, breaking its 52-week low. So far today approximately 60,000 shares have been exchanged, as compared to an average 30-day volume of 523,000 shares.

Potential upside of 27.1% exists for Dril-Quip Inc, based on a current level of $41.05 and analysts' average consensus price target of $52.18. The stock should find initial resistance at its 50-day moving average (MA) of $59.41 and further resistance at its 200-day MA of $59.95.

Dril-Quip, Inc. designs and manufactures offshore drilling and production equipment. The Company's equipment consists of subsea, surface, and offshore rig equipment for use by oil and gas companies in offshore areas throughout the world. Dril-Quip provides installation and reconditioning services, and also rents running tools.

Dril-Quip Inc share prices have moved between a 52-week high of $69.40 and the current low of $40.50 and are currently at $41.05 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend is monitoring the recent change of momentum in Dril-Quip Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dril-Quip Inc in search of a potential trend change.

Keywords: 52 week high/lows dril-quip inc

Ticker(s): DRQ