Zacks Investment Research upgraded shares of Smart Sand (NASDAQ:SND) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $2.75 price target on the stock.

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. “

SND opened at $2.54 on Wednesday. The firm has a market cap of $110.26 million, a P/E ratio of 2.33 and a beta of 2.09. The firm has a 50-day moving average of $2.88 and a 200 day moving average of $2.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.14 and a current ratio of 2.72. Smart Sand has a fifty-two week low of $0.64 and a fifty-two week high of $3.67.

Smart Sand (NASDAQ:SND) last released its quarterly earnings data on Monday, March 1st. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Smart Sand had a net margin of 29.88% and a return on equity of 3.55%. Equities research analysts predict that Smart Sand will post -0.1 earnings per share for the current fiscal year.

In other Smart Sand news, insider James Douglas Young sold 42,100 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $2.96, for a total transaction of $124,616.00. Following the sale, the insider now directly owns 79,185 shares of the company’s stock, valued at $234,387.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 50.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SND. Squarepoint Ops LLC lifted its holdings in shares of Smart Sand by 138.0% in the third quarter. Squarepoint Ops LLC now owns 75,053 shares of the company’s stock worth $98,000 after buying an additional 43,515 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Smart Sand in the third quarter worth about $26,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Smart Sand in the fourth quarter worth about $34,000. Clearlake Capital Group L.P. purchased a new stake in shares of Smart Sand in the fourth quarter worth about $18,783,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Smart Sand by 167.3% in the fourth quarter. Renaissance Technologies LLC now owns 465,592 shares of the company’s stock worth $801,000 after buying an additional 291,392 shares in the last quarter. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

Smart Sand Company Profile

Smart Sand, Inc, an integrated frac sand supply and services company, engages in the excavation, processing, and sale of sands or proppant for use in hydraulic fracturing operations in the oil and gas industry in the United States. It also operates SmartSystems, a wellsite proppant storage solution; and offers logistics services.

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