Sandvik AB (OTCMKTS:SDVKY) Stock Short Interest Report for October

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 6,988 shares, a drop of 62.1% from the September 30th total of 18,416 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 145,853 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

SDVKY has been the topic of several research analyst reports. Morgan Stanley upgraded Sandvik to an “overweight” rating in a research report on Monday, October 19th. Citigroup restated a “neutral” rating on shares of Sandvik in a report on Tuesday, September 29th. BNP Paribas Exane lowered Sandvik to a “neutral” rating in a report on Thursday, October 1st. Berenberg Bank raised shares of Sandvik to a “hold” rating in a report on Thursday, August 27th. Finally, Nordea Equity Research upgraded shares of Sandvik from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sandvik has an average rating of “Moderate Buy”.

Sandvik Price Performance

Shares of OTCMKTS:SDVKY opened at $36.56 on Thursday. The company has a market capitalization of $45.86 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The stock has a fifty day moving average of $37.90 and a 200-day moving average of $39.30. Sandvik has a one year low of $28.71 and a one year high of $44.53.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Thursday, October 22nd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Sandvik had a return on equity of 20.30% and a net margin of 13.85%. As a group, equities analysts anticipate that Sandvik will post 1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently bought a new position in Sandvik stock. Yousif Capital Management LLC acquired a new position in Sandvik AB (OTCMKTS:SDVKY) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,686 shares of the industrial products company’s stock, valued at approximately $214,000. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Sandvik Company Profile

Sandvik AB is a Sweden-based global engineering group that develops and manufactures equipment, tools and digital solutions for the mining, construction and manufacturing industries. Founded in 1862, the company has evolved from a steel producer into a specialized industrial technology business headquartered in Stockholm, Sweden.

Its Mining and Rock Solutions business provides underground and surface mining equipment, rock tools, drilling systems, automation technologies and related services.