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

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 111,254 shares, a growth of 2,500.6% from the August 31st total of 4,278 shares. Based on an average trading volume of 206,464 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the shares of the stock are short sold.

Sandvik Stock Down 2.4%

SDVKY stock traded down $0.91 during midday trading on Thursday, reaching $37.76. The company had a trading volume of 79,153 shares, compared to its average volume of 143,257. The company has a 50 day moving average of $38.39 and a two-hundred day moving average of $39.66. The company has a market capitalization of $47.37 billion, a P/E ratio of 26.04, a PEG ratio of 1.08 and a beta of 1.52. Sandvik has a 1 year low of $27.14 and a 1 year high of $44.53. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SDVKY. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Berenberg Bank upgraded Sandvik to a “hold” rating in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sandvik presently has a consensus rating of “Hold”.

Institutional Trading of Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC raised its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,489 shares of the industrial products company’s stock after purchasing 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.

About Sandvik

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik’s business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.