Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, May 24th. The brokerage currently has a $13.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 64.56% from the company’s current price.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
Several other equities analysts also recently commented on SND. Simmons boosted their target price on shares of Smart Sand from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, April 11th. Johnson Rice raised shares of Smart Sand from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $21.00 in a report on Friday, March 17th. Finally, Jefferies Group LLC set a $20.00 price target on shares of Smart Sand and gave the company a “buy” rating in a research note on Sunday, May 14th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Smart Sand presently has an average rating of “Buy” and a consensus price target of $16.00.
Shares of Smart Sand (NYSE SND) traded down 4.59% during mid-day trading on Wednesday, hitting $7.90. 1,466,193 shares of the company were exchanged. The company has a market capitalization of $318.69 million and a P/E ratio of 20.90. The company has a 50 day moving average of $10.66 and a 200 day moving average of $14.69. Smart Sand has a 52 week low of $7.73 and a 52 week high of $21.99.
Smart Sand (NYSE:SND) last announced its earnings results on Thursday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.03. The company had revenue of $25 million for the quarter, compared to the consensus estimate of $18.13 million. Smart Sand’s revenue for the quarter was up 140.4% compared to the same quarter last year. Equities analysts anticipate that Smart Sand will post $0.46 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of SND. Tudor Investment Corp Et Al acquired a new position in shares of Smart Sand during the fourth quarter valued at about $201,000. FMR LLC acquired a new position in shares of Smart Sand during the fourth quarter valued at about $24,331,000. GLG Partners LP acquired a new position in shares of Smart Sand during the fourth quarter valued at about $2,724,000. State Street Corp acquired a new position in shares of Smart Sand during the fourth quarter valued at about $2,198,000. Finally, Norges Bank acquired a new position in shares of Smart Sand during the fourth quarter valued at about $2,482,000.
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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