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

Sandvik AB (OTCMKTS:SDVKY) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 52,662 shares, a growth of 478.2% from the February 12th total of 9,108 shares. Based on an average daily volume of 179,707 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 179,707 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

SDVKY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Citigroup reissued a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Sandvik presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its holdings in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the SEC. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Sandvik Stock Performance

Shares of OTCMKTS:SDVKY traded up $1.33 during trading on Tuesday, reaching $41.30. 419,228 shares of the stock were exchanged, compared to its average volume of 164,892. Sandvik has a 12 month low of $16.94 and a 12 month high of $44.43. The stock has a 50-day moving average price of $38.96 and a 200-day moving average price of $32.59. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The firm has a market cap of $51.80 billion, a PE ratio of 34.13, a PEG ratio of 1.73 and a beta of 1.48.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.38 billion. Sandvik had a return on equity of 16.94% and a net margin of 12.16%. Research analysts expect that Sandvik will post 1.27 EPS for the current fiscal year.

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.