Smart Sand (NASDAQ:SND) Sees Significant Increase in Short Interest
by Sarita Garza · The Markets DailySmart Sand (NASDAQ:SND – Get Free Report) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 397,872 shares, a growth of 36.7% from the February 12th total of 290,961 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 387,766 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 387,766 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.3% of the company’s shares are short sold.
Wall Street Analyst Weigh In
SND has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Smart Sand in a report on Monday, December 29th. Wall Street Zen downgraded shares of Smart Sand from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Smart Sand currently has a consensus rating of “Hold”.
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Insider Activity
In other news, Director Francis Michael Porcelli sold 150,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $4.02, for a total value of $603,000.00. Following the transaction, the director directly owned 869,060 shares in the company, valued at $3,493,621.20. This trade represents a 14.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 375,000 shares of company stock valued at $1,485,250. 34.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Smart Sand
Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Smart Sand during the first quarter worth $26,000. Bailard Inc. acquired a new position in Smart Sand in the 2nd quarter worth $50,000. Squarepoint Ops LLC acquired a new position in Smart Sand in the 4th quarter worth $57,000. Balyasny Asset Management L.P. bought a new position in Smart Sand during the 4th quarter worth about $59,000. Finally, LPL Financial LLC increased its holdings in Smart Sand by 36.7% during the 4th quarter. LPL Financial LLC now owns 14,900 shares of the company’s stock worth $60,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors own 35.21% of the company’s stock.
Smart Sand Trading Up 0.3%
NASDAQ:SND traded up $0.01 on Friday, reaching $3.72. The company’s stock had a trading volume of 285,226 shares, compared to its average volume of 438,851. Smart Sand has a 1-year low of $1.76 and a 1-year high of $5.59. The business’s 50-day moving average price is $4.48 and its two-hundred day moving average price is $3.28. The firm has a market cap of $161.97 million, a PE ratio of 124.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.14 and a current ratio of 1.76.
Smart Sand (NASDAQ:SND – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. Smart Sand had a negative return on equity of 8.67% and a net margin of 0.41%.The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $60.00 million. Equities research analysts anticipate that Smart Sand will post 0.07 earnings per share for the current fiscal year.
Smart Sand declared that its Board of Directors has authorized a share buyback plan on Thursday, February 26th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 8.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
About Smart Sand
Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.
Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.