Smart Sand (SND) Sees Unusually-High Trading Volume on Earnings Beat

Smart Sand Inc (NASDAQ:SND) shares saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 3,830,974 shares changed hands during trading, an increase of 368% from the previous session’s volume of 819,182 shares.The stock last traded at $3.27 and had previously closed at $2.87.

The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $63.10 million for the quarter, compared to analyst estimates of $56.62 million. Smart Sand had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue for the quarter was up 60.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share.

A number of equities analysts have recently commented on SND shares. Zacks Investment Research lowered shares of Smart Sand from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. ValuEngine raised shares of Smart Sand from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Seaport Global Securities reissued a “buy” rating on shares of Smart Sand in a research report on Thursday, August 9th. Jefferies Financial Group lowered shares of Smart Sand from a “hold” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Wednesday, October 17th. Finally, Stifel Nicolaus dropped their price target on shares of Smart Sand from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.69.

A number of large investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Smart Sand by 18.9% during the 3rd quarter. FMR LLC now owns 3,313,487 shares of the company’s stock worth $13,619,000 after purchasing an additional 527,259 shares during the last quarter. BlackRock Inc. raised its holdings in Smart Sand by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,441,858 shares of the company’s stock worth $7,657,000 after purchasing an additional 68,674 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Smart Sand by 268.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 727,373 shares of the company’s stock worth $3,862,000 after purchasing an additional 529,904 shares during the last quarter. Signia Capital Management LLC bought a new stake in Smart Sand during the 2nd quarter worth about $2,288,000. Finally, Northern Trust Corp raised its holdings in Smart Sand by 5.3% during the 1st quarter. Northern Trust Corp now owns 249,509 shares of the company’s stock worth $1,452,000 after purchasing an additional 12,645 shares during the last quarter. 43.00% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $118.14 million, a price-to-earnings ratio of 10.16 and a beta of 3.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 1.19.

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About Smart Sand (NASDAQ:SND)

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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