Smart Sand (NASDAQ:SND) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $9.50 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 21.95% from the company’s previous close.
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 research analysts have also recently commented on the stock. BidaskClub cut shares of Smart Sand from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Piper Jaffray Companies set a $12.00 price target on shares of Smart Sand and gave the stock a “buy” rating in a report on Wednesday, January 10th. TheStreet upgraded shares of Smart Sand from a “d” rating to a “c-” rating in a report on Tuesday, January 2nd. Janney Montgomery Scott cut shares of Smart Sand from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Tuesday, January 2nd. Finally, Seaport Global Securities began coverage on shares of Smart Sand in a report on Friday, December 8th. They set a “buy” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Smart Sand presently has an average rating of “Buy” and a consensus price target of $12.90.
Smart Sand (SND) opened at $7.79 on Thursday. Smart Sand has a twelve month low of $4.81 and a twelve month high of $21.99. The company has a market cap of $288.61, a P/E ratio of 10.66 and a beta of 3.33.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Smart Sand by 1,651.3% in the 2nd quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after buying an additional 10,783 shares in the last quarter. Fidelity National Financial Inc. acquired a new stake in Smart Sand during the 4th quarter worth $123,000. Macquarie Group Ltd. acquired a new stake in Smart Sand during the 4th quarter worth $128,000. Stone Ridge Asset Management LLC acquired a new stake in Smart Sand during the 4th quarter worth $144,000. Finally, Globeflex Capital L P acquired a new stake in Smart Sand during the 4th quarter worth $149,000. Institutional investors and hedge funds own 50.92% of the company’s stock.
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About Smart Sand
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.
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