Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $13.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 27.45% from the stock’s current price.
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. “
A number of other analysts have also recently weighed in on SND. Jefferies Group LLC set a $20.00 price target on shares of Smart Sand and gave the stock a “buy” rating in a research report on Sunday, May 14th. Simmons upped their price objective on shares of Smart Sand from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, April 11th. Finally, Johnson Rice raised shares of Smart Sand from an “accumulate” rating to a “buy” rating and upped their price objective for the company from $20.00 to $21.00 in a research report on Friday, March 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $16.36.
Smart Sand (NYSE:SND) opened at 10.20 on Wednesday. The stock has a market capitalization of $411.47 million and a price-to-earnings ratio of 26.98. The company has a 50-day moving average price of $12.80 and a 200-day moving average price of $14.95. Smart Sand has a 12-month low of $10.10 and a 12-month high of $21.99.
Smart Sand (NYSE:SND) last announced its quarterly earnings results on Thursday, May 11th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $25 million for the quarter, compared to analysts’ expectations of $18.13 million. Smart Sand’s revenue was up 140.4% compared to the same quarter last year. On average, equities research analysts forecast that Smart Sand will post $0.46 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. American International Group Inc. purchased a new position in Smart Sand during the first quarter worth $116,000. Nationwide Fund Advisors boosted its position in Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after buying an additional 1,597 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in Smart Sand during the first quarter worth $156,000. Quantbot Technologies LP purchased a new position in Smart Sand during the first quarter worth $167,000. Finally, Tudor Investment Corp Et Al purchased a new position in Smart Sand during the fourth quarter worth $201,000.
Smart Sand Company Profile
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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