Smart Sand (SND) Shares Down 7.1%

Smart Sand (NASDAQ:SND) dropped 7.1% on Monday . The stock traded as low as $6.25 and last traded at $6.29. Approximately 1,083,811 shares traded hands during trading, an increase of 27% from the average daily volume of 855,336 shares. The stock had previously closed at $6.77.

SND has been the topic of several analyst reports. Deutsche Bank cut their price target on Smart Sand from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 19th. Zacks Investment Research raised Smart Sand from a “hold” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research report on Thursday, February 22nd. Janney Montgomery Scott downgraded Smart Sand from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Tuesday, January 2nd. Credit Suisse Group reaffirmed a “neutral” rating and set a $6.75 price target (down from $9.00) on shares of Smart Sand in a research report on Friday, March 16th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $12.00 price target on shares of Smart Sand in a research report on Monday, March 19th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.78.

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The company has a market capitalization of $277.20, a PE ratio of 19.66 and a beta of 3.47.

Smart Sand (NASDAQ:SND) last posted its earnings results on Thursday, March 15th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.09). Smart Sand had a return on equity of 7.37% and a net margin of 15.69%. The firm had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $40.96 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s revenue was up 45.8% compared to the same quarter last year. sell-side analysts forecast that Smart Sand will post 1.06 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC boosted its stake in shares of Smart Sand by 20.2% during the 4th quarter. Teachers Advisors LLC now owns 37,466 shares of the company’s stock worth $324,000 after acquiring an additional 6,284 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Smart Sand by 17.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 90,539 shares of the company’s stock worth $614,000 after acquiring an additional 13,406 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Smart Sand by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,348,156 shares of the company’s stock worth $11,676,000 after acquiring an additional 13,749 shares in the last quarter. Mycio Wealth Partners LLC boosted its stake in shares of Smart Sand by 62.2% during the 4th quarter. Mycio Wealth Partners LLC now owns 36,500 shares of the company’s stock worth $316,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Fidelity National Financial Inc. purchased a new stake in shares of Smart Sand during the 4th quarter worth about $123,000. 51.00% of the stock is currently owned by institutional investors and hedge funds.

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About Smart Sand

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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