Smart Sand (NASDAQ:SND) Downgraded to Strong Sell at ValuEngine

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Smart Sand (NASDAQ:SND) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Monday, ValuEngine reports.

SND has been the subject of a number of other research reports. B. Riley raised shares of Smart Sand from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.50 to $5.00 in a report on Wednesday, July 17th. Evercore ISI set a $5.00 price target on shares of Smart Sand and gave the company a “hold” rating in a report on Wednesday, August 7th. Seaport Global Securities reissued a “buy” rating on shares of Smart Sand in a report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Smart Sand from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Saturday, September 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.70.

Shares of Smart Sand stock traded up $0.11 during midday trading on Monday, reaching $2.56. The company had a trading volume of 158,327 shares, compared to its average volume of 320,923. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $101.23 million, a price-to-earnings ratio of 3.16 and a beta of 2.22. The stock has a fifty day simple moving average of $2.64 and a 200 day simple moving average of $2.94. Smart Sand has a 1-year low of $1.92 and a 1-year high of $4.68.

Smart Sand (NASDAQ:SND) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.21. The business had revenue of $67.90 million during the quarter, compared to analyst estimates of $57.03 million. Smart Sand had a net margin of 11.06% and a return on equity of 18.46%. Smart Sand’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. Sell-side analysts expect that Smart Sand will post 0.95 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Smart Sand by 8.7% during the 2nd quarter. BlackRock Inc. now owns 1,586,643 shares of the company’s stock worth $3,871,000 after acquiring an additional 126,964 shares during the period. Vanguard Group Inc. grew its holdings in Smart Sand by 44.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,350,913 shares of the company’s stock worth $3,296,000 after acquiring an additional 418,800 shares during the period. LSV Asset Management grew its holdings in Smart Sand by 426.7% during the 2nd quarter. LSV Asset Management now owns 837,944 shares of the company’s stock worth $2,044,000 after acquiring an additional 678,844 shares during the period. Sprott Inc. grew its holdings in Smart Sand by 20.0% during the 2nd quarter. Sprott Inc. now owns 600,000 shares of the company’s stock worth $1,464,000 after acquiring an additional 100,000 shares during the period. Finally, Northern Trust Corp grew its holdings in Smart Sand by 5.4% during the 2nd quarter. Northern Trust Corp now owns 241,325 shares of the company’s stock worth $588,000 after acquiring an additional 12,335 shares during the period. 34.25% of the stock is owned by hedge funds and other institutional investors.

About Smart Sand

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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Analyst Recommendations for Smart Sand (NASDAQ:SND)

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