Short Interest in Sandvik AB (OTCMKTS:SDVKY) Grows By 712.7%

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 307,709 shares, an increase of 712.7% from the December 31st total of 37,864 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 445,865 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 445,865 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Sandvik

Several institutional investors and hedge funds have recently added to or reduced their stakes in SDVKY. Salomon & Ludwin LLC raised its holdings in Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. GAMMA Investing LLC increased its position in Sandvik by 24.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after buying an additional 1,473 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 3,030 shares during the last quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Rothschild Redb raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Jefferies Financial Group downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday. Barclays reissued an “overweight” rating on shares of Sandvik in a research note on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Sandvik Stock Performance

Shares of SDVKY stock opened at $39.41 on Wednesday. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 1.33 and a beta of 1.50. Sandvik has a 52-week low of $16.94 and a 52-week high of $39.50. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $32.69 and its 200 day moving average is $29.10.

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.