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

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 4,278 shares, an increase of 494.2% from the August 15th total of 720 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 368,950 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SDVKY. Kepler Capital Markets cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Berenberg Bank raised Sandvik to a “hold” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sandvik presently has a consensus rating of “Hold”.

Sandvik Price Performance

Shares of OTCMKTS SDVKY traded up $0.26 during midday trading on Friday, reaching $39.87. 227,345 shares of the stock traded hands, compared to its average volume of 161,445. The company’s 50 day moving average is $38.73 and its 200 day moving average is $39.95. Sandvik has a one year low of $26.72 and a one year high of $44.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84. The stock has a market capitalization of $50.01 billion, a PE ratio of 27.50, a P/E/G ratio of 1.14 and a beta of 1.52.

Institutional Trading of Sandvik

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

Sandvik Company Profile

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik’s business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.