Sandvik AB (OTCMKTS:SDVKY) Sees Significant Increase in Short Interest

Sandvik AB (OTCMKTS:SDVKY) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 26,010 shares, an increase of 467.8% from the June 30th total of 4,581 shares. Based on an average daily volume of 385,350 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on SDVKY. Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Zacks Research lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Nordea Equity Research upgraded Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Citigroup lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group restated a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sandvik has an average rating of “Hold”.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent SEC filing. Institutional investors own 0.74% of the company’s stock.

Sandvik Stock Performance

Shares of SDVKY stock opened at $35.71 on Friday. The stock has a market cap of $44.79 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50. The company’s fifty day moving average price is $39.81 and its 200-day moving average price is $39.87. Sandvik has a 12 month low of $23.96 and a 12 month high of $44.53. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. Sandvik had a return on equity of 18.78% and a net margin of 13.05%.The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. On average, equities analysts expect that Sandvik will post 1.71 EPS for the current fiscal year.

Sandvik Company Profile

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.