Smart Sand (NASDAQ:SND) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Smart Sand (NASDAQ:SND) announced its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06, FiscalAI reports. Smart Sand had a negative return on equity of 8.67% and a net margin of 0.41%.The firm had revenue of $86.05 million for the quarter, compared to analyst estimates of $60.00 million.

Smart Sand Stock Performance

Shares of NASDAQ:SND traded down $0.09 on Tuesday, hitting $4.11. 427,657 shares of the company were exchanged, compared to its average volume of 407,914. The company’s 50 day moving average price is $4.48 and its two-hundred day moving average price is $3.17. The firm has a market capitalization of $178.95 million, a price-to-earnings ratio of 137.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.14 and a current ratio of 1.76. Smart Sand has a one year low of $1.76 and a one year high of $5.59.

Institutional Investors Weigh In On Smart Sand

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in shares of Smart Sand in the first quarter worth about $26,000. Squarepoint Ops LLC acquired a new position in Smart Sand during the 4th quarter worth $57,000. Balyasny Asset Management L.P. acquired a new position in Smart Sand during the 4th quarter worth $59,000. LPL Financial LLC boosted its position in Smart Sand by 36.7% in the 4th quarter. LPL Financial LLC now owns 14,900 shares of the company’s stock valued at $60,000 after buying an additional 4,000 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Smart Sand in the 4th quarter valued at $71,000. 35.21% of the stock is currently owned by institutional investors.

Smart Sand announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 26th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 8.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

SND has been the topic of several recent analyst reports. Wall Street Zen lowered Smart Sand from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Weiss Ratings restated a “hold (c)” rating on shares of Smart Sand in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Smart Sand currently has an average rating of “Hold”.

About Smart Sand

Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.

Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.