BidaskClub downgraded shares of Smart Sand Inc (NYSE:SND) from a buy rating to a hold rating in a report issued on Wednesday.
Several other analysts have also recently weighed in on the stock. Credit Suisse Group cut shares of Smart Sand from an outperform rating to a neutral rating and dropped their price target for the company from $20.00 to $8.50 in a research note 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 research note on Monday, June 26th. Zacks Investment Research cut shares of Smart Sand from a buy rating to a sell rating in a research note on Thursday, July 13th. Deutsche Bank AG initiated coverage on shares of Smart Sand in a research note on Tuesday, October 10th. They issued a buy rating and a $9.00 price target for the company. Finally, Piper Jaffray Companies reissued a buy rating on shares of Smart Sand in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $13.07.
Smart Sand (NYSE:SND) traded down 3.15% on Wednesday, reaching $6.46. The company had a trading volume of 652,049 shares. The firm has a market capitalization of $260.80 million and a P/E ratio of 13.60. Smart Sand has a 1-year low of $4.81 and a 1-year high of $21.99. The company’s 50-day moving average price is $6.84 and its 200 day moving average price is $6.84.
Smart Sand (NYSE:SND) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The firm had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period last year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 250.9% on a year-over-year basis. On average, equities analysts forecast that Smart Sand will post $0.32 EPS for the current year.
In related news, CEO Charles Edwin Young acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Kiszka acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $5.53 per share, with a total value of $55,300.00. Following the transaction, the vice president now directly owns 110,629 shares in the company, valued at approximately $611,778.37. The disclosure for this purchase can be found here. Insiders have purchased a total of 132,000 shares of company stock valued at $685,960 in the last ninety days.
Large investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. boosted its position in shares of 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 period. American Century Companies Inc. purchased a new position in shares of Smart Sand during the 2nd quarter worth approximately $1,249,000. Vanguard Group Inc. boosted its position in shares of 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 period. Goldman Sachs Group Inc. boosted its position in shares of 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 period. Finally, Wells Fargo & Company MN boosted its position in shares of Smart Sand by 38.3% during the 1st quarter. Wells Fargo & Company MN now owns 97,159 shares of the company’s stock worth $1,579,000 after purchasing an additional 26,926 shares during the period.
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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