Smart Sand (NASDAQ:SND) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Smart Sand (NASDAQ:SND) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday.

Smart Sand Stock Performance

Shares of SND opened at $1.84 on Thursday. The firm has a fifty day moving average of $2.13 and a 200-day moving average of $2.25. The company has a market cap of $81.11 million, a price-to-earnings ratio of -13.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.98 and a current ratio of 1.71. Smart Sand has a 1 year low of $1.73 and a 1 year high of $2.80.

Smart Sand (NASDAQ:SND) last posted its earnings results on Tuesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.59). Smart Sand had a negative net margin of 1.96% and a negative return on equity of 1.74%. The firm had revenue of $65.56 million for the quarter, compared to analyst estimates of $60.00 million. As a group, equities analysts anticipate that Smart Sand will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Smart Sand

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in Smart Sand by 16.0% during the 1st quarter. Acadian Asset Management LLC now owns 824,744 shares of the company’s stock valued at $2,132,000 after acquiring an additional 113,612 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Smart Sand by 348.8% in the first quarter. Jane Street Group LLC now owns 81,013 shares of the company’s stock worth $210,000 after purchasing an additional 62,961 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Smart Sand by 7.0% during the first quarter. Empowered Funds LLC now owns 161,480 shares of the company’s stock valued at $418,000 after purchasing an additional 10,588 shares during the period. Everstar Asset Management LLC acquired a new position in shares of Smart Sand during the first quarter valued at $141,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Smart Sand during the first quarter valued at about $26,000. 35.21% of the stock is owned by institutional investors.

Smart Sand Company Profile

Smart Sand, Inc, an integrated frac and industrial 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 provides proppant logistics services; and wellsite storage solutions through SmartSystems products and services.