Smart Sand Inc (SND) Shares Up 8.4% Following Insider Buying Activity
Shares of Smart Sand Inc (NYSE:SND) shot up 8.4% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $5.69 and last traded at $5.44, with a volume of 1,197,476 shares traded. The stock had previously closed at $5.02.
Specifically, CEO Charles Edwin Young acquired 100,000 shares of Smart Sand stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $5.18 per share, with a total value of $518,000.00. Following the completion of the purchase, the chief executive officer now owns 140,600 shares of the company’s stock, valued at approximately $728,308. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Lee E. Beckelman acquired 20,000 shares of Smart Sand stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $5.13 per share, with a total value of $102,600.00. Following the purchase, the chief financial officer now directly owns 137,500 shares of the company’s stock, valued at approximately $705,375. The disclosure for this purchase can be found here. Insiders acquired 122,000 shares of company stock valued at $630,660 in the last three months.
A number of brokerages have commented on SND. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a research note on Monday, August 14th. Credit Suisse Group cut Smart Sand from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Zacks Investment Research cut Smart Sand from a “buy” rating to a “sell” rating in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $15.00 price objective (down previously from $20.00) on shares of Smart Sand in a research note on Monday, June 26th. Finally, Janney Montgomery Scott began coverage on Smart Sand in a research report on Thursday, June 15th. They set a “buy” rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Smart Sand has a consensus rating of “Buy” and a consensus target price of $14.95.
The company has a market cap of $219.45 million and a P/E ratio of 14.39. The stock’s 50-day moving average is $6.63 and its 200 day moving average is $11.81.
Smart Sand (NYSE:SND) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by $0.03. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The business had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period in the previous year, the company posted ($0.11) earnings per share. Smart Sand’s revenue for the quarter was up 250.9% compared to the same quarter last year. Equities analysts forecast that Smart Sand Inc will post $0.30 EPS for the current year.
A number of large investors have recently bought and sold shares of SND. Sprott Inc. acquired a new stake in Smart Sand during the first quarter valued at approximately $10,562,000. Eagle Asset Management Inc. acquired a new stake in Smart Sand during the first quarter valued at approximately $12,268,000. Sei Investments Co. acquired a new stake in Smart Sand during the first quarter valued at approximately $2,026,000. Bank of New York Mellon Corp raised its stake in Smart Sand by 47.5% in the first quarter. Bank of New York Mellon Corp now owns 132,644 shares of the company’s stock valued at $2,155,000 after buying an additional 42,729 shares during the last quarter. Finally, Boston Partners raised its stake in Smart Sand by 120.9% in the first quarter. Boston Partners now owns 411,800 shares of the company’s stock valued at $6,692,000 after buying an additional 225,340 shares during the last quarter.
COPYRIGHT VIOLATION WARNING: “Smart Sand Inc (SND) Shares Up 8.4% Following Insider Buying Activity” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2017/08/21/smart-sand-inc-snd-shares-up-8-4-following-insider-buying-activity.html.
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.
Receive News & Stock Ratings for Smart Sand Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Sand Inc and related stocks with our FREE daily email newsletter.