Smart Sand (NASDAQ:SND) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Smart Sand (NASDAQ:SND) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Smart Sand in a research report on Monday, July 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Smart Sand has an average rating of “Hold”.

Smart Sand Trading Up 3.4%

Shares of SND stock opened at $4.31 on Friday. Smart Sand has a fifty-two week low of $1.76 and a fifty-two week high of $5.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a 50 day simple moving average of $4.85 and a two-hundred day simple moving average of $4.78. The company has a market cap of $185.29 million, a P/E ratio of 7.84 and a beta of 0.27.

Smart Sand (NASDAQ:SND) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $93.11 million during the quarter.

Smart Sand Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Tuesday, July 28th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 28th.

Hedge Funds Weigh In On Smart Sand

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in Smart Sand in the 1st quarter valued at $26,000. Squarepoint Ops LLC bought a new stake in Smart Sand during the 4th quarter valued at $57,000. Balyasny Asset Management L.P. acquired a new position in Smart Sand during the fourth quarter worth $59,000. LPL Financial LLC raised its holdings in Smart Sand by 36.7% during the fourth quarter. LPL Financial LLC now owns 14,900 shares of the company’s stock worth $60,000 after buying an additional 4,000 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Smart Sand in the fourth quarter valued at $71,000. 35.21% of the stock is owned by institutional investors and hedge funds.

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.