Sandvik AB (OTCMKTS:SDVKY) Shares Shorted: Short Interest Up 552.4% in October

Sandvik AB (OTCMKTS:SDVKY) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 45,592 shares, a growth of 552.4% from the October 15th total of 6,988 shares. Based on an average daily volume of 186,541 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Trading of Sandvik

A hedge fund recently bought a new stake in Sandvik stock. Yousif Capital Management LLC bought a new position in shares of Sandvik AB (OTCMKTS:SDVKY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,686 shares of the industrial products company’s stock, valued at approximately $214,000. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SDVKY has been the subject of a number of research reports. BNP Paribas Exane cut Sandvik to a “neutral” rating in a research note on Thursday, October 1st. Morgan Stanley upgraded shares of Sandvik to an “overweight” rating in a report on Monday, October 19th. Kepler Capital Markets downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Citigroup restated a “neutral” rating on shares of Sandvik in a report on Tuesday, September 29th. Finally, Nordea Equity Research raised shares of Sandvik from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sandvik has an average rating of “Moderate Buy”.

Sandvik Stock Down 2.5%

Sandvik stock traded down $0.93 during midday trading on Thursday, reaching $36.75. The stock had a trading volume of 32,901 shares, compared to its average volume of 135,043. The stock has a market capitalization of $46.10 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 0.91 and a beta of 1.51. The firm’s fifty day simple moving average is $37.25 and its 200-day simple moving average is $39.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. Sandvik has a 1-year low of $28.71 and a 1-year high of $44.53.

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

About Sandvik

Sandvik is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for mining, infrastructure and manufacturing customers. Founded in 1862, the company has a long history in materials and industrial engineering. Its business includes machinery and systems for mining and rock excavation, equipment and services for processing rock, and metal-cutting tools and tooling systems for industrial manufacturers. Sandvik also provides related aftermarket support and digital solutions, including technologies used in mining and manufacturing operations.