Sandvik (OTCMKTS:SDVKY) Shares Gap Up – What’s Next?

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped up prior to trading on Friday . The stock had previously closed at $37.84, but opened at $40.13. Sandvik shares last traded at $40.24, with a volume of 2,195 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on SDVKY shares. Kepler Capital Markets cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Sandvik Stock Up 3.8%

The company’s 50 day moving average price is $38.90 and its two-hundred day moving average price is $40.11. The firm has a market cap of $50.36 billion, a PE ratio of 27.69, a PEG ratio of 1.08 and a beta of 1.51. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,489 shares of the industrial products company’s stock after purchasing 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. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.