Deutsche Bank AG started coverage on shares of Smart Sand Inc (NYSE:SND) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $9.00 price objective on the stock.
A number of other equities analysts also recently issued reports on the stock. BidaskClub raised shares of Smart Sand from a sell rating to a hold rating in a report on Thursday, September 14th. Zacks Investment Research raised shares of Smart Sand from a sell rating to a hold rating in a report on Saturday, September 9th. Janney Montgomery Scott began coverage on shares of Smart Sand in a report on Thursday, June 15th. They set a buy rating and a $13.00 price objective on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $15.00 price objective (down from $20.00) on shares of Smart Sand in a report on Monday, June 26th. Finally, Credit Suisse Group downgraded shares of Smart Sand from an outperform rating to a neutral rating and cut their price objective for the stock from $20.00 to $8.50 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $13.64.
Smart Sand (NYSE:SND) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The business had revenue of $29.79 million during the quarter, compared to analyst estimates of $29.88 million. During the same period in the previous year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 250.9% compared to the same quarter last year.
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In other Smart Sand news, CEO Charles Edwin Young acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $5.18 per share, with a total value of $518,000.00. Following the completion of the acquisition, the chief executive officer now owns 140,600 shares of the company’s stock, valued at $728,308. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lee E. Beckelman acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $5.13 per share, with a total value of $102,600.00. Following the acquisition, the chief financial officer now directly owns 137,500 shares of the company’s stock, valued at approximately $705,375. The disclosure for this purchase can be found here. Insiders have bought 132,000 shares of company stock valued at $685,960 in the last three months.
Several hedge funds and other institutional investors have recently modified their holdings of SND. Teachers Advisors LLC purchased a new position in shares of Smart Sand during the fourth quarter worth about $306,000. Nationwide Fund Advisors grew 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 worth $117,000 after purchasing an additional 1,597 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Smart Sand by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 145,003 shares of the company’s stock worth $2,356,000 after purchasing an additional 9,243 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Smart Sand by 38.3% during the first quarter. Wells Fargo & Company MN now owns 97,159 shares of the company’s stock worth $1,579,000 after purchasing an additional 26,926 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Smart Sand by 47.5% during the first quarter. Bank of New York Mellon Corp now owns 132,644 shares of the company’s stock worth $2,155,000 after purchasing an additional 42,729 shares in the last quarter.
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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