Smart Sand (NASDAQ:SND) Sees Significant Growth in Short Interest

Smart Sand (NASDAQ:SND) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,287,122 shares, an increase of 87.6% from the June 15th total of 686,231 shares. Based on an average daily volume of 758,640 shares, the short-interest ratio is presently 1.7 days. Currently, 4.5% of the company’s shares are short sold.

Smart Sand Trading Up 3.7%

Shares of NASDAQ SND traded up $0.17 during trading hours on Friday, reaching $4.73. The stock had a trading volume of 40,220 shares, compared to its average volume of 390,737. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. The firm has a market cap of $203.21 million, a price-to-earnings ratio of 8.69 and a beta of 0.27. The business’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $4.74. Smart Sand has a 52-week low of $1.76 and a 52-week high of $5.92.

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

Smart Sand Dividend Announcement

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

Hedge Funds Weigh In On Smart Sand

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its holdings in shares of Smart Sand by 36.7% in the fourth quarter. LPL Financial LLC now owns 14,900 shares of the company’s stock valued at $60,000 after acquiring an additional 4,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Smart Sand by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 444,089 shares of the company’s stock worth $893,000 after acquiring an additional 6,551 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in Smart Sand by 43.6% during the 1st quarter. Kathmere Capital Management LLC now owns 27,743 shares of the company’s stock worth $142,000 after acquiring an additional 8,422 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Smart Sand during the 1st quarter worth about $26,000. Finally, State Street Corp increased its position in Smart Sand by 6.7% during the 4th quarter. State Street Corp now owns 161,597 shares of the company’s stock valued at $646,000 after purchasing an additional 10,200 shares during the period. Hedge funds and other institutional investors own 35.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SND. Wall Street Zen raised shares of Smart Sand from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Smart Sand from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company 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.