Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Increases By 1,826.7%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 57,800 shares, an increase of 1,826.7% from the December 15th total of 3,000 shares. Based on an average trading volume of 253,100 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers lifted its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,045 shares of the industrial products company’s stock after buying an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent SEC filing. Institutional investors own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SDVKY. Sanford C. Bernstein upgraded shares of Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Barclays raised Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Stock Performance

Shares of OTCMKTS SDVKY traded up $0.05 during mid-day trading on Wednesday, reaching $18.06. 208,037 shares of the company were exchanged, compared to its average volume of 165,443. Sandvik AB has a twelve month low of $17.76 and a twelve month high of $23.50. The stock has a market capitalization of $22.65 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.25 and a beta of 1.46. The company’s 50-day simple moving average is $18.55 and its 200-day simple moving average is $19.75. The company has a quick ratio of 0.85, a current ratio of 1.63 and a debt-to-equity ratio of 0.45.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its quarterly earnings data on Monday, October 21st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Sandvik AB (publ) had a return on equity of 16.52% and a net margin of 9.93%. The firm had revenue of $2.91 billion for the quarter. As a group, research analysts predict that Sandvik AB will post 1.02 earnings per share for the current year.

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.