Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Time to Sell?

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped down prior to trading on Thursday . The stock had previously closed at $41.81, but opened at $39.48. Sandvik shares last traded at $39.4225, with a volume of 3,579 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SDVKY shares. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Kepler Capital Markets cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Berenberg Bank upgraded Sandvik to a “hold” rating in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed 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 given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sandvik Price Performance

The firm has a 50-day simple moving average of $38.77 and a 200-day simple moving average of $39.97. The firm has a market cap of $49.74 billion, a P/E ratio of 27.35, a PEG ratio of 1.20 and a beta of 1.52. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC raised its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,489 shares of the industrial products company’s stock after buying 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. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik Company Profile

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik’s business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.