Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Up 5,500.0% in June

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 5,600 shares, a growth of 5,500.0% from the May 31st total of 100 shares. Based on an average daily trading volume, of 68,400 shares, the days-to-cover ratio is presently 0.1 days.

Sandvik AB (publ) Price Performance

Shares of OTCMKTS SDVKY traded up $0.12 during mid-day trading on Friday, reaching $20.06. The company’s stock had a trading volume of 70,594 shares, compared to its average volume of 124,974. The stock has a 50-day moving average of $21.14 and a two-hundred day moving average of $21.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.62. The stock has a market capitalization of $25.16 billion, a P/E ratio of 20.90, a P/E/G ratio of 2.57 and a beta of 1.54. Sandvik AB has a 1-year low of $16.31 and a 1-year high of $23.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last released its quarterly earnings data on Monday, April 22nd. The industrial products company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Sandvik AB (publ) had a net margin of 10.18% and a return on equity of 17.16%. The company had revenue of $2.79 billion during the quarter. On average, equities research analysts anticipate that Sandvik AB will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sandvik AB (publ) stock. GAMMA Investing LLC acquired a new position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,939 shares of the industrial products company’s stock, valued at approximately $61,000. Institutional investors and hedge funds own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DNB Markets raised Sandvik AB (publ) from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th.

Sandvik AB (publ) Company Profile

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.