Key Points
- Director Francis Michael Porcelli sold a total of 375,000 shares of Smart Sand across early March (Mar 4, 5, 9, 10) for roughly $1.49 million, cutting his stake by 5.75% to 819,060 shares valued at about $3.10 million.
- Smart Sand's latest quarter beat estimates, reporting $0.03 EPS versus a -$0.03 consensus and revenue of $86.05 million versus $60.0 million expected.
- The board approved a $20 million share buyback authorization (up to 8.9% of shares outstanding), signaling management believes the stock may be undervalued.
Smart Sand (NASDAQ:SND - Get Free Report) Director Francis Michael Porcelli sold 50,000 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $3.78, for a total transaction of $189,000.00. Following the completion of the sale, the director owned 819,060 shares of the company's stock, valued at $3,096,046.80. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Francis Michael Porcelli also recently made the following trade(s):
- On Tuesday, March 10th, Francis Michael Porcelli sold 75,000 shares of Smart Sand stock. The stock was sold at an average price of $3.87, for a total value of $290,250.00.
- On Thursday, March 5th, Francis Michael Porcelli sold 150,000 shares of Smart Sand stock. The shares were sold at an average price of $4.02, for a total value of $603,000.00.
- On Wednesday, March 4th, Francis Michael Porcelli sold 100,000 shares of Smart Sand stock. The shares were sold at an average price of $4.03, for a total value of $403,000.00.
Smart Sand Stock Performance
SND opened at $3.84 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 0.04. Smart Sand has a 12-month low of $1.76 and a 12-month high of $5.59. The business has a 50 day moving average of $4.50 and a 200-day moving average of $3.26. The stock has a market cap of $167.19 million, a price-to-earnings ratio of 128.00 and a beta of 0.27.
Smart Sand (NASDAQ:SND - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.03 earnings per share 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 business had revenue of $86.05 million for the quarter, compared to analyst estimates of $60.00 million. On average, equities research analysts expect that Smart Sand will post 0.07 earnings per share for the current year.
Smart Sand declared that its board has approved a share buyback program on Thursday, February 26th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to purchase up to 8.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Institutional Trading of Smart Sand
Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Smart Sand by 10.3% in the 4th quarter. Empowered Funds LLC now owns 216,416 shares of the company's stock valued at $866,000 after buying an additional 20,213 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Smart Sand in the fourth quarter valued at about $94,000. Verdad Advisers LP bought a new stake in shares of Smart Sand in the fourth quarter valued at about $404,000. Occudo Quantitative Strategies LP acquired a new position in shares of Smart Sand in the fourth quarter valued at about $71,000. Finally, Millennium Management LLC acquired a new position in shares of Smart Sand in the fourth quarter valued at about $135,000. 35.21% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SND. Weiss Ratings reissued a "hold (c)" rating on shares of Smart Sand in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Smart Sand from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".
Read Our Latest Stock Report on Smart Sand
Smart Sand Company Profile
(
Get Free Report)
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.
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