Shares of Smart Sand Inc (NYSE:SND) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $4.78, but opened at $5.19. Smart Sand shares last traded at $5.13, with a volume of 417,036 shares trading hands.

The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $29.79 million during the quarter, compared to the consensus estimate of $29.88 million. Smart Sand had a return on equity of 2.51% and a net margin of 3.87%. Smart Sand’s revenue was up 250.9% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS.

A number of equities research analysts have issued reports on SND shares. Deutsche Bank AG reissued a “buy” rating and issued a $18.00 price target (down previously from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. Zacks Investment Research raised shares of Smart Sand from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a report on Friday, June 16th. Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $8.50 in a report on Thursday, July 20th. Jefferies Group LLC reissued a “buy” rating and issued a $15.00 price target (down previously from $20.00) on shares of Smart Sand in a report on Monday, June 26th. Finally, Janney Montgomery Scott started coverage on shares of Smart Sand in a report on Thursday, June 15th. They issued a “buy” rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.95.

Several large investors have recently made changes to their positions in the stock. American International Group Inc. bought a new stake in shares of Smart Sand during the first quarter worth $116,000. Nationwide Fund Advisors boosted its position in shares of Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after buying an additional 1,597 shares during the period. Metropolitan Life Insurance Co. NY acquired a new position in shares of Smart Sand during the first quarter worth about $156,000. Quantbot Technologies LP acquired a new position in shares of Smart Sand during the first quarter worth about $167,000. Finally, Bank of Montreal Can acquired a new position in shares of Smart Sand during the second quarter worth about $186,000.

The stock’s 50-day moving average price is $7.17 and its 200 day moving average price is $12.36. The firm has a market capitalization of $207.35 million and a P/E ratio of 13.60.

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Smart Sand Company Profile

Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.

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