When I initially recommended hydraulic fracturing sand producer Smart Sand Inc (NASDAQ: SND), there were a couple of obvious risk factors ahead. Q1 earnings would soon be reported, which would be the first full quarter of earnings as a publicly traded company. Those in fact posted and were better than expected in almost all categories. The stock popped up 10% on the news.

Next up was the OPEC meeting, which had the potential to cut off U.S. oil producers at the knees if the group decided to abandon the production cuts decided upon at last November’s meeting. Instead, they did as I expected and extended the cuts. This should be good news for U.S. oil producers, but oil prices dipped on the news as some producers were expecting that the cuts would be deepened. I am not sure why they expected this, as OPEC telegraphed its intentions ahead of the meeting. But this will allow U.S. oil producers to continue to expand production at current prices. It also puts a firmer floor under oil prices and increases the likelihood that the fracking sand market will continue to grow.

But the gist of all of this is that despite the mostly positive news, Smart Sand shares have traded down. Today, the price reached the stop I had set for the company. It’s been an incredibly frustrating experience with this one, as neither other analysts I have spoken with, nor I can identify a fundamental reason for the decline. Everyone I speak with in the oil industry says they are using ever increasing volumes of sand, and sand prices are rising. In fact, if you look at the ratings on the company from the brokerage houses, you will see that Smart Sand has an average Outperform rating and a median target of $18.13 — about 92% above its current value.

Given that I strongly feel that the current drop is irrational given the fundamentals, I am going to continue to recommend it. If there were some piece of significant news that I thought dampened the outlook, I would sell. The action here reminds me of SolarEdge Technologies (NYSE: SEDG), which was another company with a solid outlook that traded down last year in the face of a soft overall solar sector. I held it through a steep decline, and thus far in 2017, it is the top performer in the portfolio with a year-to-date return of 52%.

I firmly believe that’s going to be the case with Smart Sand; that this is going to be a short (but painful at the moment) decline that will reverse in coming months. I will continue to hold Smart Sand in my portfolio, and while I won’t add to my position (yet) I feel like selling at this point would be getting out near a bottom.

Smart Sand remains a Buy up to $16 a share. If you were not stopped out of your position, continue to hold unless there is a fundamental shift in the company’s outlook (which you will hear from me).