Smart Sand Inc (SND) Trading Up 0% After Better-Than-Expected Earnings
Smart Sand Inc (NYSE:SND) was up 0% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $8.40 and last traded at $8.30. Approximately 1,659,384 shares traded hands during mid-day trading, an increase of 220% from the average daily volume of 518,452 shares. The stock had previously closed at $8.30.
The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business had revenue of $39.33 million during the quarter, compared to the consensus estimate of $33.60 million. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 259.8% compared to the same quarter last year.
Several analysts have recently weighed in on SND shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a research report on Thursday, September 21st. Jefferies Group LLC set a $7.00 target price on Smart Sand and gave the stock a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research lowered Smart Sand from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BidaskClub lowered Smart Sand from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Credit Suisse Group lowered Smart Sand from an “outperform” rating to a “neutral” rating and cut their price target for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.07.
In other Smart Sand news, CFO Lee E. Beckelman purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the purchase, the chief financial officer now owns 137,500 shares of the company’s stock, valued at $705,375. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Edwin Young purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $5.18 per share, for a total transaction of $518,000.00. Following the purchase, the chief executive officer now directly owns 140,600 shares of the company’s stock, valued at approximately $728,308. The disclosure for this purchase can be found here. Insiders have bought 132,000 shares of company stock worth $685,960 in the last 90 days.
Several hedge funds have recently modified their holdings of the company. Credit Suisse AG lifted its holdings in shares of Smart Sand by 6.6% during the first quarter. Credit Suisse AG now owns 16,728 shares of the company’s stock worth $272,000 after purchasing an additional 1,038 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Smart Sand by 28.6% during the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after purchasing an additional 1,597 shares during the period. Wall Street Access Asset Management LLC lifted its holdings in shares of Smart Sand by 19.6% during the second quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock worth $147,000 after purchasing an additional 2,705 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in shares of Smart Sand by 10.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 30,725 shares of the company’s stock worth $281,000 after purchasing an additional 2,999 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Smart Sand by 22.1% during the second quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock worth $291,000 after purchasing an additional 5,901 shares during the period.
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About Smart Sand
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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