Smart Sand (NASDAQ:SND) Posts Quarterly Earnings Results

Key Points

• Smart Sand reported a quarterly earnings per share (EPS) of ($0.01), with negative margins and return on equity, highlighting financial challenges.
• The company announced a special dividend of $0.10 per share, set to be paid on August 14th, for stockholders of record on August 4th.
• Analysts have downgraded Smart Sand's stock rating from "strong-buy" to "hold", reflecting a shift in market sentiment.

Smart Sand (NASDAQ:SND - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, Zacks reports. Smart Sand had a negative return on equity of 8.30% and a negative net margin of 7.15%.

Smart Sand Price Performance

Shares of NASDAQ:SND traded up $0.03 during midday trading on Tuesday, hitting $1.88. The stock had a trading volume of 89,376 shares, compared to its average volume of 140,971. The company has a market capitalization of $82.87 million, a P/E ratio of -3.48 and a beta of 0.83. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.04. The company's 50-day moving average price is $2.00 and its 200-day moving average price is $2.11. Smart Sand has a fifty-two week low of $1.76 and a fifty-two week high of $2.80.

Smart Sand Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a $0.10 dividend. The ex-dividend date is Monday, August 4th.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Smart Sand from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd.

Institutional Investors Weigh In On Smart Sand

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Smart Sand by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 444,089 shares of the company's stock valued at $893,000 after purchasing an additional 6,551 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Smart Sand during the 1st quarter valued at approximately $26,000. Empowered Funds LLC grew its holdings in Smart Sand by 7.0% during the 1st quarter. Empowered Funds LLC now owns 161,480 shares of the company's stock worth $418,000 after acquiring an additional 10,588 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Smart Sand by 348.8% during the 1st quarter. Jane Street Group LLC now owns 81,013 shares of the company's stock worth $210,000 after acquiring an additional 62,961 shares during the last quarter. 35.21% of the stock is owned by institutional investors.

Smart Sand Company Profile

Smart Sand, Inc, an integrated frac and industrial sand supply and services company, engages in the excavation, processing, and sale of sands or proppant for use in hydraulic fracturing operations in the oil and gas industry in the United States. It also provides proppant logistics services; and wellsite storage solutions through SmartSystems products and services.

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