Smart Sand (SND) Shares Down 5.9%

Smart Sand Inc (NASDAQ:SND) fell 5.9% during trading on Tuesday . The stock traded as low as $8.77 and last traded at $8.82. 738,651 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 731,989 shares. The stock had previously closed at $9.37.

Several research firms have recently commented on SND. BidaskClub upgraded shares of Smart Sand from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Piper Jaffray Companies set a $10.00 price target on shares of Smart Sand and gave the company a “buy” rating in a report on Sunday, November 12th. Jefferies Group lowered shares of Smart Sand from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Wednesday, November 15th. Credit Suisse Group boosted their price target on shares of Smart Sand from $5.50 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 14th. Finally, Seaport Global Securities began coverage on shares of Smart Sand in a report on Friday, December 8th. They issued a “buy” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.00.

The firm has a market cap of $356.27 and a P/E ratio of 13.16.

Smart Sand (NASDAQ:SND) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $39.33 million during the quarter, compared to analyst estimates of $33.60 million. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. Smart Sand’s revenue was up 259.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. research analysts forecast that Smart Sand Inc will post 0.4 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Smart Sand by 51.8% during the 3rd quarter. Victory Capital Management Inc. now owns 3,205,268 shares of the company’s stock worth $21,732,000 after purchasing an additional 1,093,368 shares during the last quarter. Boston Partners grew its position in Smart Sand by 145.4% during the 3rd quarter. Boston Partners now owns 1,598,268 shares of the company’s stock worth $10,837,000 after purchasing an additional 946,910 shares during the last quarter. FMR LLC grew its position in Smart Sand by 42.2% during the 2nd quarter. FMR LLC now owns 2,263,470 shares of the company’s stock worth $20,168,000 after purchasing an additional 671,670 shares during the last quarter. Russell Investments Group Ltd. grew its position in Smart Sand by 237.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 847,723 shares of the company’s stock worth $5,746,000 after purchasing an additional 596,398 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Smart Sand during the 3rd quarter worth approximately $3,069,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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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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