Stone Ridge Asset Management LLC purchased a new position in shares of Smart Sand Inc (NASDAQ:SND) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,649 shares of the company’s stock, valued at approximately $144,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in Smart Sand by 237.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 847,723 shares of the company’s stock worth $5,746,000 after buying an additional 596,398 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Smart Sand by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,667,721 shares of the company’s stock worth $31,762,000 after buying an additional 462,453 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Smart Sand by 215.2% during the 3rd quarter. Wells Fargo & Company MN now owns 389,083 shares of the company’s stock worth $2,638,000 after buying an additional 265,657 shares in the last quarter. Clearbridge LLC lifted its holdings in Smart Sand by 10.0% during the 4th quarter. Clearbridge LLC now owns 2,534,092 shares of the company’s stock worth $21,945,000 after buying an additional 230,600 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Smart Sand by 24.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 551,940 shares of the company’s stock worth $3,742,000 after buying an additional 107,040 shares in the last quarter. Institutional investors and hedge funds own 51.00% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research downgraded Smart Sand from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 22nd. TheStreet downgraded Smart Sand from a “c-” rating to a “d+” rating in a research note on Monday, March 26th. Credit Suisse Group reissued a “neutral” rating and issued a $6.75 price target (down previously from $9.00) on shares of Smart Sand in a research note on Friday, March 16th. Piper Jaffray set a $10.00 price target on Smart Sand and gave the company a “buy” rating in a research note on Friday, March 16th. Finally, BidaskClub downgraded Smart Sand from a “hold” rating to a “sell” rating in a research note on Saturday, March 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.14.
SND stock opened at $6.06 on Friday. The firm has a market capitalization of $253.05, a PE ratio of 18.94 and a beta of 3.49. Smart Sand Inc has a twelve month low of $4.81 and a twelve month high of $16.67.
Smart Sand (NASDAQ:SND) last posted its quarterly earnings results on Thursday, March 15th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.09). The company had revenue of $43.00 million during the quarter, compared to analyst estimates 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 for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. sell-side analysts forecast that Smart Sand Inc will post 1.12 earnings per share for the current year.
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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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