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

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 16,600 shares, a growth of 361.1% from the September 30th total of 3,600 shares. Based on an average daily trading volume, of 45,700 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC boosted its holdings in Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,425 shares of the industrial products company’s stock after acquiring an additional 564 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 as of its most recent filing with the Securities and Exchange Commission. 0.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SDVKY has been the subject of several recent analyst reports. UBS Group cut Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Barclays raised Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Sandvik AB (publ) Price Performance

SDVKY stock traded up $0.12 during midday trading on Friday, hitting $19.78. 42,848 shares of the stock were exchanged, compared to its average volume of 105,686. The stock’s 50-day moving average price is $20.80 and its 200-day moving average price is $20.82. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.98 and a beta of 1.49. Sandvik AB has a fifty-two week low of $16.55 and a fifty-two week high of $23.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.58.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its quarterly earnings data on Monday, October 21st. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $2.91 billion during the quarter. Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.56%. Research analysts predict that Sandvik AB will post 1.23 earnings per share for the current year.

About Sandvik AB (publ)

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.