Smart Sand (NASDAQ:SND) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Smart Sand (NASDAQ:SND) from a buy rating to a hold rating in a research note released on Tuesday.

Smart Sand Stock Performance

NASDAQ SND opened at $2.16 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 0.98 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $2.18 and its two-hundred day moving average is $2.26. Smart Sand has a 12-month low of $1.73 and a 12-month high of $2.80. The stock has a market capitalization of $95.22 million, a price-to-earnings ratio of -15.43 and a beta of 0.97.

Smart Sand (NASDAQ:SND) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.62) EPS for the quarter. Smart Sand had a negative return on equity of 1.74% and a negative net margin of 1.96%. Research analysts expect that Smart Sand will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Smart Sand

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management lifted its stake in Smart Sand by 30.5% in the 1st quarter. Ritholtz Wealth Management now owns 143,382 shares of the company’s stock valued at $371,000 after buying an additional 33,506 shares in the last quarter. Millennium Management LLC purchased a new stake in Smart Sand in the 4th quarter valued at approximately $117,000. Jane Street Group LLC purchased a new stake in Smart Sand in the 4th quarter valued at approximately $41,000. Dimensional Fund Advisors LP lifted its stake in Smart Sand by 30.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 506,974 shares of the company’s stock valued at $1,140,000 after buying an additional 118,370 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Smart Sand by 533,771.4% during the 4th quarter. NewEdge Advisors LLC now owns 37,371 shares of the company’s stock worth $84,000 after purchasing an additional 37,364 shares during the period. Hedge funds and other institutional investors own 35.21% of the company’s stock.

About Smart Sand

Smart Sand, Inc, an integrated frac and industrial sand supply and services company, engages in the excavation, processing, and sale of sands or proppant for use in hydraulic fracturing operations in the oil and gas industry in the United States. It also provides proppant logistics services; and wellsite storage solutions through SmartSystems products and services.