Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
SND has been the subject of several other research reports. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a research note on Thursday, September 21st. Jefferies Group LLC set a $7.00 price objective on Smart Sand and gave the company a “buy” rating in a report on Monday, August 28th. BidaskClub lowered Smart Sand from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Credit Suisse Group lowered Smart Sand from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $8.50 in a report on Thursday, July 20th. Finally, Deutsche Bank AG started coverage on Smart Sand in a report on Tuesday, October 10th. They issued a “buy” rating and a $9.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Smart Sand currently has a consensus rating of “Buy” and a consensus target price of $13.07.
Smart Sand (NYSE:SND) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business had revenue of $29.79 million during the quarter, compared to the consensus estimate of $29.88 million. During the same period in the previous year, the company posted ($0.11) EPS. The company’s revenue for the quarter was up 250.9% compared to the same quarter last year.
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In related news, CFO Lee E. Beckelman bought 20,000 shares of Smart Sand stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $5.13 per share, with a total value of $102,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 137,500 shares in the company, valued at approximately $705,375. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert Kiszka bought 10,000 shares of Smart Sand stock in a transaction dated Friday, August 25th. The shares were bought at an average cost of $5.53 per share, with a total value of $55,300.00. Following the completion of the acquisition, the vice president now owns 110,629 shares of the company’s stock, valued at $611,778.37. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 132,000 shares of company stock valued at $685,960.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Credit Suisse AG lifted its holdings in shares of Smart Sand by 6.6% during the first quarter. Credit Suisse AG now owns 16,728 shares of the company’s stock valued at $272,000 after purchasing an additional 1,038 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in shares of Smart Sand by 28.6% during the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after purchasing an additional 1,597 shares during the last quarter. Wall Street Access Asset Management LLC lifted its holdings in shares of Smart Sand by 19.6% during the second quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock valued at $147,000 after purchasing an additional 2,705 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in shares of Smart Sand by 10.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 30,725 shares of the company’s stock valued at $281,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Smart Sand by 22.1% during the second quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock valued at $291,000 after purchasing an additional 5,901 shares during the last quarter.
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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