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

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

Institutional Investors Weigh In On Sandvik

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

Analyst Ratings Changes

SDVKY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Nordea Equity Research raised Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sandvik Stock Performance

Shares of SDVKY stock opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.00 and a beta of 1.50. Sandvik has a 52 week low of $23.96 and a 52 week high of $44.53. The firm’s 50-day simple moving average is $39.81 and its two-hundred day simple moving average is $39.87.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. Sandvik had a net margin of 13.05% and a return on equity of 18.78%. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. As a group, equities analysts forecast that Sandvik will post 1.71 earnings per share for the current 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.