Sandvik AB (publ) (OTCMKTS:SDVKY) Sees Significant Decrease in Short Interest

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 3,600 shares, a decline of 34.5% from the September 15th total of 5,500 shares. Based on an average daily volume of 60,700 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Barclays upgraded Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Sandvik AB (publ) Stock Performance

Shares of Sandvik AB (publ) stock traded up $0.25 during trading on Monday, hitting $21.21. 18,200 shares of the company’s stock traded hands, compared to its average volume of 105,867. Sandvik AB has a 1 year low of $16.31 and a 1 year high of $23.50. The business has a 50-day simple moving average of $20.65 and a 200-day simple moving average of $20.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.58 and a quick ratio of 0.85. The stock has a market capitalization of $26.61 billion, a P/E ratio of 21.87, a PEG ratio of 3.04 and a beta of 1.49.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings data on Friday, July 19th. The industrial products company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $2.94 billion during the quarter. Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. As a group, analysts forecast that Sandvik AB will post 1.26 EPS 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 lifted its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,314 shares of the industrial products company’s stock after purchasing an additional 1,375 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik AB (publ) Company Profile

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.