Short Interest in Sandvik AB (OTCMKTS:SDVKY) Decreases By 69.0%

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 720 shares, a decline of 69.0% from the July 30th total of 2,319 shares. Based on an average daily trading volume, of 342,980 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Sandvik Trading Up 0.2%

Shares of OTCMKTS:SDVKY opened at $41.44 on Friday. Sandvik has a 52-week low of $24.89 and a 52-week high of $44.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The company has a market capitalization of $51.98 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.51. The company has a 50-day simple moving average of $38.87 and a 200 day simple moving average of $40.12.

Wall Street Analyst Weigh In

SDVKY has been the topic of a number of recent research reports. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Kepler Capital Markets cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sandvik has an average rating of “Hold”.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik Company Profile

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.