Smart Sand (NASDAQ:SND) Short Interest Up 36.7% in February

Smart Sand (NASDAQ:SND) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 397,872 shares, an increase of 36.7% from the February 12th total of 290,961 shares. Based on an average daily trading volume, of 387,766 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.3% of the shares of the stock are sold short. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 387,766 shares, the days-to-cover ratio is currently 1.0 days.

Smart Sand Price Performance

NASDAQ SND traded up $0.15 during trading hours on Monday, reaching $3.87. 77,388 shares of the stock traded hands, compared to its average volume of 401,166. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.76 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $4.48 and a two-hundred day simple moving average of $3.29. Smart Sand has a 1 year low of $1.76 and a 1 year high of $5.59. The company has a market cap of $168.28 million, a price-to-earnings ratio of 128.83 and a beta of 0.27.

Smart Sand (NASDAQ:SND) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. Smart Sand had a negative return on equity of 8.67% and a net margin of 0.41%.The firm had revenue of $86.05 million during the quarter, compared to analysts’ expectations of $60.00 million. On average, analysts predict that Smart Sand will post 0.07 EPS for the current fiscal year.

Smart Sand declared that its Board of Directors has approved a share repurchase program on Thursday, February 26th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 8.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Smart Sand news, Director Francis Michael Porcelli sold 150,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $4.02, for a total value of $603,000.00. Following the transaction, the director directly owned 869,060 shares in the company, valued at $3,493,621.20. This represents a 14.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 375,000 shares of company stock worth $1,485,250 in the last three months. 32.30% of the stock is owned by insiders.

Institutional Trading of Smart Sand

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in shares of Smart Sand in the first quarter worth about $26,000. Bailard Inc. purchased a new stake in Smart Sand during the 2nd quarter valued at about $50,000. Squarepoint Ops LLC bought a new position in Smart Sand during the 4th quarter worth approximately $57,000. Balyasny Asset Management L.P. bought a new position in Smart Sand during the 4th quarter worth approximately $59,000. Finally, LPL Financial LLC increased its stake in Smart Sand by 36.7% in the 4th quarter. LPL Financial LLC now owns 14,900 shares of the company’s stock worth $60,000 after purchasing an additional 4,000 shares during the period. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SND has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Smart Sand in a research report on Monday, December 29th. Wall Street Zen lowered shares of Smart Sand from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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.