Smart Sand (NASDAQ:SND) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Smart Sand, Inc. (NASDAQ:SND) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.03 and traded as low as $1.91. Smart Sand shares last traded at $1.98, with a volume of 45,786 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on Smart Sand from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Monday, July 15th.

Smart Sand Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $2.03 and a two-hundred day moving average price of $2.08. The stock has a market cap of $85.15 million, a P/E ratio of 9.09 and a beta of 1.08.

Smart Sand (NASDAQ:SND) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Smart Sand had a return on equity of 1.07% and a net margin of 0.44%. The company had revenue of $73.80 million during the quarter, compared to analyst estimates of $68.15 million. During the same period in the prior year, the company earned $0.17 earnings per share. On average, sell-side analysts forecast that Smart Sand, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Christopher M. Green sold 33,000 shares of Smart Sand stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.96, for a total transaction of $64,680.00. Following the completion of the transaction, the vice president now directly owns 46,352 shares of the company’s stock, valued at approximately $90,849.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 32.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Smart Sand

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CastleKnight Management LP increased its holdings in Smart Sand by 44.0% during the fourth quarter. CastleKnight Management LP now owns 959,238 shares of the company’s stock valued at $1,851,000 after buying an additional 292,900 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Smart Sand in the 2nd quarter worth $294,000. Acadian Asset Management LLC lifted its stake in shares of Smart Sand by 16.4% during the 2nd quarter. Acadian Asset Management LLC now owns 806,696 shares of the company’s stock worth $1,700,000 after purchasing an additional 113,440 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Smart Sand by 67.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 212,994 shares of the company’s stock valued at $407,000 after purchasing an additional 85,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Smart Sand by 36.7% in the second quarter. Dimensional Fund Advisors LP now owns 300,646 shares of the company’s stock valued at $634,000 after purchasing an additional 80,787 shares during the last quarter. Institutional investors 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.