The firm also lifted its price target to $15 from $9 on shares of the Houston-based producer and supplier of monocrystalline sand.
UBS said recent commentary from oil field service companies suggests an increase in sand demand and intensity, the Fly noted.
The firm projects an uptick in volume of sand sold in the second half of the year with a bigger rise next year.
About 1.05 million of the company's shares changed hands today, above its average trading volume of 640,294 shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HCLP