Smart Sand (NASDAQ:SND) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

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. “

A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Smart Sand from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Piper Jaffray Companies set a $12.00 target price on Smart Sand and gave the stock a “buy” rating in a report on Wednesday, January 10th. TheStreet upgraded Smart Sand from a “d” rating to a “c-” rating in a report on Tuesday, January 2nd. Janney Montgomery Scott cut Smart Sand from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Tuesday, January 2nd. Finally, Seaport Global Securities initiated coverage on Smart Sand in a report on Friday, December 8th. They set a “buy” rating and a $15.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.80.

Smart Sand (NASDAQ SND) opened at $7.94 on Friday. The stock has a market capitalization of $320.72 and a PE ratio of 12.03. Smart Sand has a 1-year low of $4.81 and a 1-year high of $21.99.

Smart Sand (NASDAQ:SND) last issued its earnings results on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. Smart Sand had a return on equity of 14.41% and a net margin of 18.67%. The firm had revenue of $39.33 million for the quarter, compared to analysts’ expectations of $33.60 million. During the same quarter last year, the business earned $0.06 earnings per share. The company’s revenue was up 259.8% compared to the same quarter last year. equities analysts expect that Smart Sand will post 0.41 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in Smart Sand by 22.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock valued at $291,000 after buying an additional 5,901 shares during the last quarter. Royal Bank of Canada raised its position in Smart Sand by 1,651.3% in the 2nd quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after buying an additional 10,783 shares during the last quarter. Alliancebernstein L.P. raised its position in Smart Sand by 83.5% in the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the company’s stock valued at $217,000 after buying an additional 11,100 shares during the last quarter. Rhumbline Advisers raised its position in Smart Sand by 103.1% in the 2nd quarter. Rhumbline Advisers now owns 21,979 shares of the company’s stock valued at $196,000 after buying an additional 11,157 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Smart Sand by 17.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 90,539 shares of the company’s stock valued at $614,000 after buying an additional 13,406 shares during the last quarter. Institutional investors and hedge funds own 49.73% of the company’s stock.

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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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