Smart Sand (NASDAQ:SND) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Smart Sand from a "buy" to a "hold," while Weiss Ratings reaffirmed a "hold (c)" and the consensus rating on the stock is now Hold.
• Smart Sand beat quarterly expectations (EPS $0.03 vs. -$0.03 est.; revenue $86.05M vs. $60M est.) and its board approved a $20 million stock buyback authorizing repurchase of up to 8.9% of shares.
• Director Francis Michael Porcelli sold 150,000 shares for about $603,000 (avg. $4.02), reducing his ownership by 14.72%; corporate insiders collectively own roughly 34% of the company.

Smart Sand (NASDAQ:SND - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Smart Sand in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Smart Sand Stock Down 0.2%

Shares of NASDAQ:SND opened at $4.09 on Friday. The firm has a market capitalization of $178.08 million, a P/E ratio of 136.33 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. The stock has a 50 day moving average price of $4.50 and a 200-day moving average price of $3.21. Smart Sand has a 52-week low of $1.76 and a 52-week high of $5.59.

Smart Sand (NASDAQ:SND - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $60.00 million. Smart Sand had a negative return on equity of 8.67% and a net margin of 0.41%. As a group, equities research analysts anticipate that Smart Sand will post 0.07 EPS for the current fiscal year.

Smart Sand announced that its board has approved a stock buyback program on Thursday, February 26th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Smart Sand

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 transaction of $603,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 34.00% of the company's stock.

Institutional Trading of Smart Sand

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new position in Smart Sand in the first quarter worth about $26,000. Empowered Funds LLC increased its position in shares of Smart Sand by 7.0% during the first quarter. Empowered Funds LLC now owns 161,480 shares of the company's stock valued at $418,000 after acquiring an additional 10,588 shares in the last quarter. Jane Street Group LLC increased its position in shares of Smart Sand by 348.8% during the first quarter. Jane Street Group LLC now owns 81,013 shares of the company's stock valued at $210,000 after acquiring an additional 62,961 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Smart Sand by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 276,039 shares of the company's stock worth $555,000 after acquiring an additional 19,117 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Smart Sand by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 444,089 shares of the company's stock valued at $893,000 after acquiring an additional 6,551 shares in the last quarter. 35.21% of the stock is owned by hedge funds and other institutional investors.

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.

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