Smart Sand Inc (NYSE:SND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 equities research analysts also recently issued reports on the company. BidaskClub raised Smart Sand from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a research note on Monday, August 14th. Jefferies Group LLC set a $7.00 price target on shares of Smart Sand and gave the stock a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank AG started coverage on shares of Smart Sand in a research note on Tuesday. They set a “buy” rating and a $9.00 price target for the company. Finally, Janney Montgomery Scott initiated coverage on shares of Smart Sand in a research note on Thursday, June 15th. They set a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Smart Sand currently has a consensus rating of “Buy” and an average price target of $13.64.

Smart Sand (SND) traded up 3.87% during midday trading on Wednesday, reaching $7.25. The company’s stock had a trading volume of 177,656 shares. The firm has a market capitalization of $292.70 million and a price-to-earnings ratio of 15.26. The stock’s 50-day moving average price is $6.80 and its 200-day moving average price is $6.80. Smart Sand has a 12 month low of $4.81 and a 12 month high of $21.99.

Smart Sand (NYSE:SND) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $29.79 million during the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The company’s revenue was up 250.9% compared to the same quarter last year. During the same period last year, the company posted ($0.11) earnings per share. Analysts predict that Smart Sand will post $0.31 EPS for the current year.

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In other news, CEO Charles Edwin Young purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $5.18 per share, with a total value of $518,000.00. Following the acquisition, the chief executive officer now owns 140,600 shares in the company, valued at approximately $728,308. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Kiszka purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $5.53 per share, with a total value of $55,300.00. Following the acquisition, the vice president now owns 110,629 shares in the company, valued at approximately $611,778.37. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 132,000 shares of company stock worth $685,960.

Institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in Smart Sand by 42.2% in the 2nd quarter. FMR LLC now owns 2,263,470 shares of the company’s stock valued at $20,168,000 after purchasing an additional 671,670 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Smart Sand by 86.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after acquiring an additional 650,587 shares during the period. Citigroup Inc. increased its position in Smart Sand by 0.5% in the 2nd quarter. Citigroup Inc. now owns 1,300,206 shares of the company’s stock valued at $11,585,000 after acquiring an additional 6,416 shares during the period. Eagle Asset Management Inc. increased its position in Smart Sand by 46.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock valued at $9,872,000 after acquiring an additional 353,021 shares during the period. Finally, Vanguard Group Inc. increased its position in Smart Sand by 16.2% in the 2nd quarter. Vanguard Group Inc. now owns 878,645 shares of the company’s stock valued at $7,829,000 after acquiring an additional 122,188 shares during the period.

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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