Shares of Smart Sand Inc (NASDAQ:SND) dropped 15.5% on Thursday . The company traded as low as $6.02 and last traded at $6.16. Approximately 3,420,376 shares traded hands during trading, an increase of 352% from the average daily volume of 756,688 shares. The stock had previously closed at $7.29.
SND has been the topic of a number of recent research reports. Jefferies Group lowered Smart Sand from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research report on Wednesday, November 15th. Zacks Investment Research raised Smart Sand from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Friday, November 17th. Seaport Global Securities initiated coverage on Smart Sand in a research report on Friday, December 8th. They set a “buy” rating and a $15.00 price objective on the stock. BidaskClub raised Smart Sand from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, Janney Montgomery Scott lowered Smart Sand from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.90.
The company has a market capitalization of $248.82 and a P/E ratio of 9.33.
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Smart Sand Company Profile
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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