Smart Sand (NASDAQ:SND) Trading Up 0.5% - What's Next?

Key Points

• Smart Sand's stock price increased by 0.5% during trading, with a closing price of $2.05 after reaching a high of $2.08, and trading volume reported at 72,408 shares.
• Analysts at Wall Street Zen have downgraded Smart Sand's rating from "strong-buy" to "hold" in their latest research report.
• The company recently announced a special dividend of $0.10 per share, set to be paid on August 14th to investors of record as of August 4th.

Smart Sand (NASDAQ:SND - Get Free Report)'s stock price shot up 0.5% during mid-day trading on Friday . The company traded as high as $2.08 and last traded at $2.05. 72,408 shares traded hands during trading, an increase of 4% from the average session volume of 69,718 shares. The stock had previously closed at $2.04.

Analyst Upgrades and Downgrades

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

Smart Sand Trading Up 0.5%

The stock has a market cap of $90.36 million, a P/E ratio of -3.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.01 and a current ratio of 1.75. The stock's fifty day moving average is $2.00 and its 200 day moving average is $2.14.

Smart Sand (NASDAQ:SND - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.59). The company had revenue of $65.56 million for the quarter, compared to analysts' expectations 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 research analysts predict that Smart Sand will post 0.07 earnings per share for the current fiscal year.

Smart Sand Dividend Announcement

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

Hedge Funds Weigh In On Smart Sand

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC purchased a new stake in Smart Sand in the fourth quarter valued at approximately $25,000. Goldman Sachs Group Inc. acquired a new position in shares of Smart Sand in the 1st quarter valued at about $26,000. Jane Street Group LLC purchased a new stake in shares of Smart Sand in the fourth quarter worth about $41,000. NewEdge Advisors LLC grew its holdings in Smart Sand by 533,771.4% during the fourth quarter. NewEdge Advisors LLC now owns 37,371 shares of the company's stock worth $84,000 after acquiring an additional 37,364 shares during the period. Finally, Millennium Management LLC acquired a new stake in Smart Sand during the fourth quarter worth about $117,000. Institutional investors and hedge funds own 35.21% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.