Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 20,500 shares, a decline of 27.3% from the August 15th total of 28,200 shares. Based on an average daily trading volume, of 48,800 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, DNB Markets raised Sandvik AB (publ) from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th.

Sandvik AB (publ) Stock Up 1.1 %

Shares of OTCMKTS:SDVKY traded up $0.21 during midday trading on Friday, hitting $20.10. The stock had a trading volume of 44,981 shares, compared to its average volume of 48,334. The business’s 50-day simple moving average is $20.15 and its 200-day simple moving average is $21.16. Sandvik AB has a 12 month low of $16.31 and a 12 month high of $23.50. The company has a market cap of $25.21 billion, a P/E ratio of 17.60, a PEG ratio of 2.31 and a beta of 1.49. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Sandvik AB (publ) had a net margin of 10.36% and a return on equity of 16.72%. The business had revenue of $2.94 billion during the quarter. On average, sell-side analysts forecast that Sandvik AB will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC raised its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,314 shares of the industrial products company’s stock after acquiring an additional 1,375 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.