Smart Sand Inc (SND) Trading 6% Higher
Smart Sand Inc (NYSE:SND) shares traded up 6% during trading on Friday . The stock traded as high as $7.14 and last traded at $7.10. 867,587 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 606,900 shares. The stock had previously closed at $6.70.
Several research analysts recently commented on the company. BidaskClub upgraded Smart Sand from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Smart Sand from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Janney Montgomery Scott began coverage on shares of Smart Sand in a research note on Thursday, June 15th. They set a “buy” rating and a $13.00 price target for the company. Credit Suisse Group downgraded shares of Smart Sand from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $15.00 price target (down previously from $20.00) on shares of Smart Sand in a research note on Monday, June 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.15.
The firm’s 50 day moving average price is $6.41 and its 200 day moving average price is $6.41. The company has a market cap of $286.64 million and a PE ratio of 14.95.
Smart Sand (NYSE:SND) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The company had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Smart Sand’s revenue was up 250.9% compared to the same quarter last year. On average, equities research analysts predict that Smart Sand Inc will post $0.31 EPS for the current fiscal year.
In other Smart Sand news, CEO Charles Edwin Young acquired 100,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $5.18 per share, with a total value of $518,000.00. Following the transaction, the chief executive officer now owns 140,600 shares of the company’s stock, valued at approximately $728,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee E. Beckelman acquired 20,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were acquired at an average cost of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the transaction, the chief financial officer now directly owns 137,500 shares in the company, valued at approximately $705,375. The disclosure for this purchase can be found here. Insiders have purchased a total of 132,000 shares of company stock worth $685,960 over the last quarter.
Institutional investors have recently modified their holdings of the business. Eagle Asset Management Inc. grew its position in Smart Sand by 46.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock worth $9,872,000 after purchasing an additional 353,021 shares during the last quarter. Vanguard Group Inc. grew its position in Smart Sand by 113.5% during the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock worth $12,292,000 after purchasing an additional 402,123 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Smart Sand by 86.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock worth $22,833,000 after purchasing an additional 650,587 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Smart Sand in the first quarter valued at about $35,404,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Smart Sand by 38.3% in the first quarter. Wells Fargo & Company MN now owns 97,159 shares of the company’s stock valued at $1,579,000 after acquiring an additional 26,926 shares in the last quarter.
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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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