Seaport Global Securities reiterated their buy rating on shares of Smart Sand (NASDAQ:SND) in a research note issued to investors on Monday. Seaport Global Securities currently has a $12.00 price target on the stock.
SND has been the subject of several other reports. BidaskClub raised shares of Smart Sand from a hold rating to a buy rating in a research note on Thursday, December 14th. Zacks Investment Research raised shares of Smart Sand from a hold rating to a strong-buy rating and set a $9.50 target price for the company in a research note on Thursday, February 22nd. Janney Montgomery Scott cut shares of Smart Sand from a buy rating to a neutral rating and set a $13.00 target price for the company. in a research note on Tuesday, January 2nd. Credit Suisse Group reaffirmed a neutral rating and set a $6.75 target price (down from $9.00) on shares of Smart Sand in a research note on Friday. Finally, Piper Jaffray Companies set a $10.00 target price on shares of Smart Sand and gave the company a buy rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $11.14.
Smart Sand stock opened at $5.58 on Monday. The firm has a market cap of $249.16, a price-to-earnings ratio of 10.73 and a beta of 3.21. Smart Sand has a 52 week low of $4.81 and a 52 week high of $16.81.
Smart Sand (NASDAQ:SND) last posted its earnings results on Thursday, March 15th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.09). The company had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $40.96 million. Smart Sand had a net margin of 15.69% and a return on equity of 7.37%. The business’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. analysts predict that Smart Sand will post 1.08 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the business. Macquarie Group Ltd. purchased a new position in shares of Smart Sand in the 4th quarter worth $128,000. Millennium Management LLC grew its stake in shares of Smart Sand by 430.2% in the 4th quarter. Millennium Management LLC now owns 490,170 shares of the company’s stock worth $4,245,000 after buying an additional 397,720 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Smart Sand by 20.2% in the 4th quarter. Teachers Advisors LLC now owns 37,466 shares of the company’s stock worth $324,000 after buying an additional 6,284 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Smart Sand in the 4th quarter worth $308,000. Finally, Ellington Management Group LLC purchased a new position in shares of Smart Sand in the 4th quarter worth $246,000. 51.70% of the stock is owned by institutional investors and hedge funds.
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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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