Sandvik AB (OTCMKTS:SDVKY) Shares Shorted: Short Interest Up 2,500.6% in September

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 111,254 shares, a growth of 2,500.6% from the August 31st total of 4,278 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 206,464 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik Price Performance

Shares of SDVKY opened at $38.47 on Friday. The firm has a market cap of $48.26 billion, a PE ratio of 26.53, a P/E/G ratio of 1.04 and a beta of 1.52. Sandvik has a 1-year low of $27.60 and a 1-year high of $44.53. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $38.46 and a two-hundred day simple moving average of $39.65.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Kepler Capital Markets downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Berenberg Bank raised Sandvik to a “hold” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold”.

About Sandvik

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik’s business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.