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

Sandvik AB (OTCMKTS:SDVKY) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 4,581 shares, an increase of 195.2% from the June 15th total of 1,552 shares. Based on an average daily trading volume, of 532,202 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC grew its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik Stock Up 0.1%

SDVKY opened at $39.87 on Wednesday. Sandvik has a 12 month low of $23.50 and a 12 month high of $44.53. The business has a 50-day moving average of $40.39 and a two-hundred day moving average of $39.71. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 1.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. On average, research analysts expect that Sandvik will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SDVKY shares. Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group reiterated a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Nordea Equity Research raised Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Finally, Zacks Research lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Sandvik

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.