Several other research firms have also commented on SND. Piper Jaffray Companies reiterated an overweight rating and issued a $8.15 price objective (up from $7.75) on shares of Smart Sand in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Smart Sand from a sell rating to a hold rating in a report on Saturday, September 9th. Jefferies Group LLC set a $7.00 target price on shares of Smart Sand and gave the company a buy rating in a report on Monday, August 28th. BidaskClub upgraded shares of Smart Sand from a sell rating to a hold rating in a report on Thursday, September 14th. Finally, Deutsche Bank AG assumed coverage on shares of Smart Sand in a report on Tuesday, October 10th. They issued a buy rating and a $9.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $13.28.
Smart Sand (NASDAQ:SND) traded down $0.07 during trading on Tuesday, hitting $8.42. 899,400 shares of the company traded hands, compared to its average volume of 744,785. Smart Sand has a 1-year low of $4.81 and a 1-year high of $21.99. The stock has a market cap of $342.94 and a price-to-earnings ratio of 12.67.
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In related news, VP Robert Kiszka acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the acquisition, the vice president now directly owns 110,629 shares in the company, valued at approximately $611,778.37. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds have recently made changes to their positions in SND. Bank of New York Mellon Corp lifted its holdings in shares of Smart Sand by 47.5% during the 1st quarter. Bank of New York Mellon Corp now owns 132,644 shares of the company’s stock worth $2,155,000 after acquiring an additional 42,729 shares during the period. American International Group Inc. purchased a new position in shares of Smart Sand during the 1st quarter worth about $116,000. Alliancebernstein L.P. purchased a new position in shares of Smart Sand during the 1st quarter worth about $216,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 402,123 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Smart Sand by 49.5% during the 1st quarter. Geode Capital Management LLC now owns 186,478 shares of the company’s stock worth $3,030,000 after acquiring an additional 61,776 shares during the period. Institutional investors and hedge funds own 56.41% of the company’s stock.
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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