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

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 57,800 shares, a growth of 1,826.7% from the December 31st total of 3,000 shares. Based on an average daily trading volume, of 253,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC lifted its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,425 shares of the industrial products company’s stock after buying an additional 564 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 as of its most recent SEC filing. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SDVKY has been the subject of a number of research analyst reports. Sanford C. Bernstein upgraded Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. Barclays upgraded shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group lowered shares of Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Price Performance

Sandvik AB (publ) stock traded down $0.06 during trading on Wednesday, reaching $21.03. The company had a trading volume of 20,529 shares, compared to its average volume of 117,090. Sandvik AB has a 1-year low of $17.76 and a 1-year high of $23.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.63. The firm’s 50-day simple moving average is $18.72 and its 200 day simple moving average is $19.72. The firm has a market capitalization of $26.38 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.46.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its earnings results on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.52%. As a group, equities research analysts anticipate that Sandvik AB will post 0.99 earnings per share for the current fiscal year.

About Sandvik AB (publ)

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.