Zacks Investment Research upgraded shares of Smart Sand (NASDAQ:SND) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
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 brokerages have also recently commented on SND. ValuEngine cut Smart Sand from a sell rating to a strong sell rating in a report on Thursday, November 8th. Piper Jaffray Companies cut Smart Sand from an overweight rating to a neutral rating and set a $4.00 target price on the stock. in a report on Tuesday, November 13th. Finally, Credit Suisse Group cut Smart Sand from a neutral rating to an underperform rating and reduced their target price for the company from $5.50 to $2.00 in a report on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $6.28.
SND stock traded down $0.09 during trading on Wednesday, hitting $2.90. The company had a trading volume of 511,773 shares, compared to its average volume of 252,703. Smart Sand has a one year low of $1.92 and a one year high of $8.14. The stock has a market capitalization of $124.40 million, a PE ratio of 4.75 and a beta of 2.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.19.
A number of institutional investors and hedge funds have recently modified their holdings of SND. BlackRock Inc. lifted its stake in Smart Sand by 5.0% in the second quarter. BlackRock Inc. now owns 1,441,858 shares of the company’s stock valued at $7,657,000 after buying an additional 68,674 shares during the period. Creative Planning acquired a new position in Smart Sand in the third quarter valued at approximately $302,000. Victory Capital Management Inc. lifted its stake in Smart Sand by 139.8% in the third quarter. Victory Capital Management Inc. now owns 41,916 shares of the company’s stock valued at $172,000 after buying an additional 24,439 shares during the period. FMR LLC lifted its stake in Smart Sand by 18.9% in the third quarter. FMR LLC now owns 3,313,487 shares of the company’s stock valued at $13,619,000 after buying an additional 527,259 shares during the period. Finally, Bridgeway Capital Management Inc. lifted its stake in Smart Sand by 68.6% in the third quarter. Bridgeway Capital Management Inc. now owns 210,800 shares of the company’s stock valued at $866,000 after buying an additional 85,800 shares during the period. 37.80% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Smart Sand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Sand and related companies with MarketBeat.com's FREE daily email newsletter.