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

Sandvik AB (OTCMKTS:SDVKY) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 2,319 shares, a drop of 91.1% from the July 15th total of 26,010 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 256,123 shares, the short-interest ratio is currently 0.0 days.

Sandvik Stock Down 1.6%

Shares of OTCMKTS:SDVKY traded down $0.61 during trading on Thursday, hitting $37.49. 174,183 shares of the company’s stock traded hands, compared to its average volume of 137,238. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $39.12 and a 200-day moving average price of $40.16. Sandvik has a 52 week low of $24.66 and a 52 week high of $44.53. The company has a market cap of $47.03 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. 0.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a report on Wednesday, April 15th. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Sandvik

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.