Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 22,143 shares, a growth of 160.1% from the April 30th total of 8,514 shares. Based on an average trading volume of 166,590 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research report on Thursday, April 23rd. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Sandvik Price Performance

Shares of SDVKY stock opened at $40.53 on Friday. The company has a market capitalization of $50.84 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.38 and a beta of 1.53. The firm has a fifty day simple moving average of $40.42 and a 200-day simple moving average of $37.47. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Sandvik has a twelve month low of $21.27 and a twelve month high of $44.53.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. Equities research analysts anticipate that Sandvik will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is owned by institutional investors.

About Sandvik

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.