Smart Sand (NASDAQ:SND) Sees Significant Decline in Short Interest

Key Points

• Smart Sand (NASDAQ:SND) experienced a 28.6% decrease in short interest in August, with a total of 148,400 shares shorted as of August 31st.
• CEO Charles Edwin Young purchased 20,000 shares at $1.91 each, increasing his ownership stake by 1.37%.
• Wall Street analysts upgraded Smart Sand from a "hold" to a "buy" rating on August 16th, reflecting increased confidence in the company's performance.

Smart Sand (NASDAQ:SND - Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 148,400 shares, a decline of 28.6% from the August 15th total of 207,700 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 87,300 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 87,300 shares, the short-interest ratio is currently 1.7 days. Currently, 0.5% of the shares of the stock are short sold.

Smart Sand Trading Up 0.5%

NASDAQ SND traded up $0.01 on Friday, reaching $2.13. 184,235 shares of the company were exchanged, compared to its average volume of 82,894. The business's fifty day moving average price is $1.95 and its 200 day moving average price is $2.04. The stock has a market capitalization of $92.78 million, a P/E ratio of 213.00 and a beta of 0.78. The company has a current ratio of 1.86, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07. Smart Sand has a fifty-two week low of $1.76 and a fifty-two week high of $2.80.

Smart Sand (NASDAQ:SND - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. Smart Sand had a negative return on equity of 8.83% and a net margin of 0.26%.The company had revenue of $85.77 million for the quarter, compared to analyst estimates of $60.00 million. Analysts forecast that Smart Sand will post 0.07 earnings per share for the current year.

Smart Sand Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 4th.

Insider Activity

In other news, CEO Charles Edwin Young purchased 20,000 shares of the stock in a transaction dated Friday, September 5th. The shares were purchased at an average cost of $1.91 per share, with a total value of $38,200.00. Following the completion of the purchase, the chief executive officer directly owned 1,477,628 shares of the company's stock, valued at approximately $2,822,269.48. The trade was a 1.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased 39,031 shares of company stock valued at $74,421 over the last quarter. Insiders own 34.00% of the company's stock.

Hedge Funds Weigh In On Smart Sand

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new stake in shares of Smart Sand in the 1st quarter valued at $26,000. Jane Street Group LLC purchased a new stake in shares of Smart Sand in the 4th quarter valued at $41,000. Bailard Inc. purchased a new stake in shares of Smart Sand in the 2nd quarter valued at $50,000. Sei Investments Co. purchased a new stake in shares of Smart Sand in the 2nd quarter valued at $82,000. Finally, Millennium Management LLC purchased a new stake in shares of Smart Sand in the 4th quarter valued at $117,000. Institutional investors and hedge funds own 35.21% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Smart Sand from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th.

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.