Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Declines By 73.2%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 5,500 shares, a decrease of 73.2% from the August 31st total of 20,500 shares. Based on an average trading volume of 164,500 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

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

Sandvik AB (publ) Stock Up 0.3 %

Shares of OTCMKTS SDVKY traded up $0.07 during mid-day trading on Friday, reaching $22.50. The company had a trading volume of 17,295 shares, compared to its average volume of 110,266. The firm has a 50 day simple moving average of $20.31 and a two-hundred day simple moving average of $21.08. Sandvik AB has a 52-week low of $16.31 and a 52-week high of $23.50. The company has a current ratio of 1.58, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market cap of $28.22 billion, a P/E ratio of 23.36, a PEG ratio of 2.44 and a beta of 1.49.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $2.94 billion during the quarter. Sandvik AB (publ) had a net margin of 10.36% and a return on equity of 16.82%. Sell-side analysts predict that Sandvik AB will post 1.25 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC increased its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,314 shares of the industrial products company’s stock after purchasing an additional 1,375 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 as of its most recent SEC filing. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

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.