Sandvik AB (OTCMKTS:SDVKY – Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 18,416 shares, a drop of 83.4% from the September 15th total of 111,254 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 148,215 shares, the short-interest ratio is currently 0.1 days.
Sandvik Trading Up 1.9%
Shares of Sandvik stock opened at $36.22 on Friday. Sandvik has a fifty-two week low of $27.76 and a fifty-two 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 $45.43 billion, a P/E ratio of 24.98, a P/E/G ratio of 0.87 and a beta of 1.51. The company has a fifty day moving average of $38.59 and a 200 day moving average of $39.50.
Wall Street Analyst Weigh In
SDVKY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Citigroup reiterated a “neutral” rating on shares of Sandvik in a research report on Tuesday, September 29th. BNP Paribas Exane downgraded shares of Sandvik to a “neutral” rating in a research report on Thursday, October 1st. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Berenberg Bank raised Sandvik to a “hold” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sandvik presently has an average rating of “Hold”.
Institutional Trading of Sandvik
An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC boosted its holdings in shares of Sandvik AB (OTCMKTS:SDVKY – Free Report) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,360 shares of the industrial products company’s stock after purchasing an additional 871 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $425,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.
Sandvik Company Profile
Sandvik AB is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for industries including mining, construction, manufacturing and infrastructure. Founded in 1862, the company has evolved from a steel producer into a global supplier of advanced industrial technologies.
Sandvik’s Mining and Rock Solutions business provides underground and surface mining equipment, rock-drilling tools, ground-support systems, loading and hauling equipment, automation and related aftermarket services.
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