Smart Sand (NASDAQ:SND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “

Several other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies cut shares of Smart Sand from an “overweight” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research report on Tuesday, November 13th. Stifel Nicolaus dropped their price objective on shares of Smart Sand from $5.50 to $5.00 and set a “hold” rating for the company in a report on Wednesday, October 10th. Seaport Global Securities set a $5.00 price objective on shares of Smart Sand and gave the company a “buy” rating in a report on Thursday, October 18th. Jefferies Financial Group downgraded shares of Smart Sand from a “hold” rating to an “underperform” rating and set a $3.00 price target for the company. in a research note on Wednesday, October 17th. Finally, ValuEngine downgraded shares of Smart Sand from a “sell” rating to a “strong sell” rating in a research report on Monday, September 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.28.

Smart Sand stock traded up $0.04 during mid-day trading on Friday, reaching $2.71. 258,839 shares of the company traded hands, compared to its average volume of 260,587. The company has a current ratio of 1.71, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. Smart Sand has a fifty-two week low of $1.92 and a fifty-two week high of $10.98. The firm has a market capitalization of $104.84 million, a price-to-earnings ratio of 8.47 and a beta of 3.02.

Smart Sand (NASDAQ:SND) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The firm had revenue of $63.10 million for the quarter, compared to analyst estimates of $56.62 million. Smart Sand had a net margin of 16.73% and a return on equity of 12.77%. The business’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, sell-side analysts predict that Smart Sand will post 0.69 EPS for the current fiscal year.

In related news, CFO Lee E. Beckelman purchased 15,800 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was acquired at an average price of $3.18 per share, with a total value of $50,244.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.60% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Clearbridge Investments LLC increased its holdings in shares of Smart Sand by 922,885.8% during the third quarter. Clearbridge Investments LLC now owns 2,732,038 shares of the company’s stock valued at $11,229,000 after purchasing an additional 2,731,742 shares during the period. FMR LLC increased its stake in Smart Sand by 28.1% in the 2nd quarter. FMR LLC now owns 2,786,228 shares of the company’s stock worth $14,795,000 after purchasing an additional 611,873 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Smart Sand by 268.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 727,373 shares of the company’s stock worth $3,862,000 after acquiring an additional 529,904 shares during the period. Vanguard Group Inc boosted its position in Smart Sand by 19.5% during the 3rd quarter. Vanguard Group Inc now owns 1,193,669 shares of the company’s stock worth $4,906,000 after acquiring an additional 194,397 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Smart Sand by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,193,669 shares of the company’s stock valued at $4,906,000 after buying an additional 194,397 shares during the last quarter. Institutional investors own 40.51% of the company’s stock.

Smart Sand Company Profile

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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