Smart Sand Inc (NASDAQ:SND) shares were down 5.4% during trading on Wednesday . The company traded as low as $9.50 and last traded at $9.50. Approximately 656,900 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 757,000 shares. The stock had previously closed at $10.04.
A number of research analysts have commented on SND shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a research report on Thursday, September 21st. Credit Suisse Group increased their price objective on Smart Sand from $5.50 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 14th. BidaskClub upgraded Smart Sand from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Jefferies Group set a $7.00 price objective on Smart Sand and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research lowered Smart Sand from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $13.18.
The stock has a market cap of $430.19 and a PE ratio of 16.64.
Large investors have recently bought and sold shares of the company. American Century Companies Inc. bought a new position in Smart Sand during the second quarter worth about $1,249,000. Ameriprise Financial Inc. bought a new position in Smart Sand during the second quarter worth about $3,965,000. Victory Capital Management Inc. lifted its holdings in Smart Sand by 51.8% during the third quarter. Victory Capital Management Inc. now owns 3,205,268 shares of the company’s stock worth $21,732,000 after acquiring an additional 1,093,368 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Smart Sand by 16.2% during the second quarter. Vanguard Group Inc. now owns 878,645 shares of the company’s stock worth $7,829,000 after acquiring an additional 122,188 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Smart Sand by 10.4% during the third quarter. Prudential Financial Inc. now owns 369,220 shares of the company’s stock worth $2,503,000 after acquiring an additional 34,760 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.
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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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