Sandvik AB (OTCMKTS:SDVKY) Shares Shorted: Short Interest Down 62.1% in October

Sandvik AB (OTCMKTS:SDVKY) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 6,988 shares, a drop of 62.1% from the September 30th total of 18,416 shares. Based on an average trading volume of 145,853 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Sandvik Stock Performance

Shares of SDVKY opened at $36.25 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. Sandvik has a 52-week low of $28.71 and a 52-week high of $44.53. The company has a 50-day simple moving average of $37.84 and a 200-day simple moving average of $39.32. The company has a market capitalization of $45.47 billion, a PE ratio of 21.91, a P/E/G ratio of 0.90 and a beta of 1.51.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Thursday, October 22nd. The industrial products company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Sandvik had a net margin of 13.85% and a return on equity of 20.30%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.70 billion. Equities research analysts predict that Sandvik will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

An institutional investor recently bought a new position in Sandvik stock. Yousif Capital Management LLC bought a new position in shares of Sandvik AB (OTCMKTS:SDVKY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,686 shares of the industrial products company’s stock, valued at approximately $214,000. Institutional investors own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Kepler Capital Markets downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research raised Sandvik from a “hold” rating to a “strong-buy” rating in a report on Friday, October 23rd. Berenberg Bank upgraded Sandvik to a “hold” rating in a research report on Thursday, August 27th. BNP Paribas Exane downgraded Sandvik to a “neutral” rating in a research note on Thursday, October 1st. Finally, Nordea Equity Research upgraded Sandvik from a “hold” rating to a “buy” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sandvik currently has an average rating of “Moderate Buy”.

About Sandvik

Sandvik AB is a Sweden-based global engineering group that develops and manufactures equipment, tools and digital solutions for the mining, construction and manufacturing industries. Founded in 1862, the company has evolved from a steel producer into a specialized industrial technology business headquartered in Stockholm, Sweden.

Its Mining and Rock Solutions business provides underground and surface mining equipment, rock tools, drilling systems, automation technologies and related services.