Smart Sand Inc (NASDAQ:SND) shares dropped 8.8% during mid-day trading on Tuesday . The stock traded as low as $3.90 and last traded at $4.26. Approximately 1,313,461 shares were traded during mid-day trading, an increase of 268% from the average daily volume of 356,445 shares. The stock had previously closed at $4.67.

Separately, Zacks Investment Research cut Smart Sand from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.28.

The stock has a market capitalization of $183.73 million, a PE ratio of 5.26 and a beta of 3.08. The company has a quick ratio of 1.28, a current ratio of 2.03 and a debt-to-equity ratio of 0.23.

Smart Sand (NASDAQ:SND) last posted its earnings results on Thursday, March 14th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.20. The company had revenue of $52.20 million for the quarter, compared to analyst estimates of $48.33 million. Smart Sand had a return on equity of 16.00% and a net margin of 8.80%. Smart Sand’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, analysts expect that Smart Sand Inc will post 0.4 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Smart Sand by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 291,187 shares of the company’s stock valued at $646,000 after purchasing an additional 56,914 shares during the last quarter. Wall Street Access Asset Management LLC grew its holdings in Smart Sand by 25.2% in the fourth quarter. Wall Street Access Asset Management LLC now owns 32,185 shares of the company’s stock valued at $71,000 after purchasing an additional 6,485 shares during the last quarter. Jane Street Group LLC acquired a new stake in Smart Sand in the fourth quarter valued at $30,000. Municipal Employees Retirement System of Michigan acquired a new stake in Smart Sand in the fourth quarter valued at $177,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Smart Sand in the fourth quarter valued at $26,000. 36.91% of the stock is currently owned by institutional investors.

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Smart Sand Company Profile (NASDAQ:SND)

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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