Smart Sand (NASDAQ:SND) Trading Down 1.9% - Here's Why

Smart Sand (NASDAQ:SND - Get Free Report) shares dropped 1.9% during mid-day trading on Friday . The company traded as low as $2.02 and last traded at $2.03. Approximately 37,351 shares traded hands during trading, a decline of 73% from the average daily volume of 139,766 shares. The stock had previously closed at $2.07.

Analysts Set New Price Targets

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

Smart Sand Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.75 and a quick ratio of 1.01. The stock has a market cap of $88.60 million, a P/E ratio of -3.72 and a beta of 0.85. The company's 50 day simple moving average is $1.98 and its 200 day simple moving average is $2.17.

Smart Sand (NASDAQ:SND - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.59). The firm had revenue of $65.56 million during the quarter, compared to analyst estimates of $60.00 million. Smart Sand had a negative net margin of 7.15% and a negative return on equity of 8.30%. As a group, equities analysts forecast that Smart Sand will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Smart Sand

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in shares of Smart Sand by 16.0% in the 1st quarter. Acadian Asset Management LLC now owns 824,744 shares of the company's stock valued at $2,132,000 after purchasing an additional 113,612 shares during the period. Dimensional Fund Advisors LP lifted its stake in Smart Sand by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,974 shares of the company's stock valued at $1,140,000 after buying an additional 118,370 shares in the last quarter. Geode Capital Management LLC lifted its stake in Smart Sand by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 433,251 shares of the company's stock valued at $975,000 after buying an additional 7,447 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Smart Sand by 88.8% in the fourth quarter. Renaissance Technologies LLC now owns 390,679 shares of the company's stock valued at $879,000 after buying an additional 183,779 shares during the period. Finally, JB Capital Partners LP boosted its holdings in shares of Smart Sand by 75.0% in the fourth quarter. JB Capital Partners LP now owns 350,000 shares of the company's stock valued at $788,000 after buying an additional 150,000 shares during the period. 35.21% of the stock is currently owned by institutional investors.

About Smart Sand

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.