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

Sandvik AB (OTCMKTS:SDVKY – Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 111,254 shares, a growth of 2,500.6% from the August 31st total of 4,278 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 206,464 shares, the days-to-cover ratio is presently 0.5 days.

Sandvik Stock Down 2.4%

OTCMKTS SDVKY opened at $37.76 on Friday. Sandvik has a 1 year low of $27.14 and a 1 year high of $44.53. The stock has a market capitalization of $47.37 billion, a PE ratio of 26.04, a PEG ratio of 1.08 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84. The business’s 50-day moving average is $38.39 and its 200 day moving average is $39.66.

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Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its holdings in shares of Sandvik AB (OTCMKTS:SDVKY – Free Report) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent SEC filing. Institutional investors own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SDVKY shares. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Berenberg Bank raised shares of Sandvik to a “hold” rating in a research note on Thursday, August 27th. Finally, Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Read Our Latest Analysis on SDVKY

About Sandvik

(Get Free Report)

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.

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