Smart Sand Inc (SND) Trading 5.9% Higher

Shares of Smart Sand Inc (NYSE:SND) traded up 5.9% during mid-day trading on Wednesday . The stock traded as high as $7.42 and last traded at $7.39. 565,029 shares were traded during mid-day trading, a decline of 14% from the average session volume of 660,377 shares. The stock had previously closed at $6.98.

Several analysts recently issued reports on the company. Zacks Investment Research cut Smart Sand from a “hold” rating to a “sell” rating in a research note on Wednesday. Deutsche Bank AG began coverage on shares of Smart Sand in a report on Tuesday. They set a “buy” rating and a $9.00 target price for the company. BidaskClub upgraded shares of Smart Sand from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Janney Montgomery Scott began coverage on shares of Smart Sand in a report on Thursday, June 15th. They set a “buy” rating and a $13.00 target price for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $15.00 target price (down from $20.00) on shares of Smart Sand in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $13.64.

The company has a market capitalization of $298.35 million and a price-to-earnings ratio of 15.56. The company has a 50 day moving average price of $6.80 and a 200-day moving average price of $6.80.

Smart Sand (NYSE:SND) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The business had revenue of $29.79 million during the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The firm’s revenue was up 250.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, analysts expect that Smart Sand Inc will post $0.32 earnings per share for the current year.

In other news, CFO Lee E. Beckelman purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the transaction, the chief financial officer now owns 137,500 shares in the company, valued at $705,375. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Edwin Young purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $5.18 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders bought 132,000 shares of company stock worth $685,960 in the last quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Smart Sand by 42.2% in the second quarter. FMR LLC now owns 2,263,470 shares of the company’s stock valued at $20,168,000 after purchasing an additional 671,670 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Smart Sand by 86.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after purchasing an additional 650,587 shares during the period. Citigroup Inc. grew its position in shares of Smart Sand by 0.5% in the second quarter. Citigroup Inc. now owns 1,300,206 shares of the company’s stock valued at $11,585,000 after purchasing an additional 6,416 shares during the period. Eagle Asset Management Inc. grew its position in shares of Smart Sand by 46.8% in the second quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock valued at $9,872,000 after purchasing an additional 353,021 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Smart Sand by 16.2% in the second quarter. Vanguard Group Inc. now owns 878,645 shares of the company’s stock valued at $7,829,000 after purchasing an additional 122,188 shares during the period.

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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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