Smart Sand (NASDAQ:SND) Sees Significant Increase in Short Interest

Smart Sand (NASDAQ:SND) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 397,872 shares, an increase of 36.7% from the February 12th total of 290,961 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 387,766 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 387,766 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.3% of the company’s shares are short sold.

Insider Buying and Selling at Smart Sand

In related news, Director Francis Michael Porcelli sold 150,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $4.02, for a total value of $603,000.00. Following the completion of the sale, the director owned 869,060 shares in the company, valued at $3,493,621.20. This represents a 14.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 375,000 shares of company stock worth $1,485,250 over the last quarter. Company insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Smart Sand

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SND shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smart Sand in a research note on Monday, December 29th. Wall Street Zen downgraded Smart Sand from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Smart Sand Stock Up 0.3%

Shares of SND traded up $0.01 during mid-day trading on Friday, hitting $3.72. 285,226 shares of the company’s stock were exchanged, compared to its average volume of 438,851. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.76 and a quick ratio of 1.14. Smart Sand has a 52 week low of $1.76 and a 52 week high of $5.59. The company has a market cap of $161.97 million, a PE ratio of 124.00 and a beta of 0.27. The company has a 50-day simple moving average of $4.48 and a 200 day simple moving average of $3.27.

Smart Sand (NASDAQ:SND) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. Smart Sand had a net margin of 0.41% and a negative return on equity of 8.67%. The business had revenue of $86.05 million for the quarter, compared to analyst estimates of $60.00 million. On average, research analysts forecast that Smart Sand will post 0.07 earnings per share for the current fiscal year.

Smart Sand announced that its Board of Directors has approved a stock repurchase program on Thursday, February 26th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Smart Sand Company Profile

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.