Sandvik AB (OTCMKTS:SDVKY) Short Interest Down 91.1% in July

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

Institutional Trading of Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC grew its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik Price Performance

Shares of SDVKY traded down $0.04 during trading hours on Tuesday, hitting $38.48. The stock had a trading volume of 39,103 shares, compared to its average volume of 138,382. Sandvik has a 52 week low of $24.51 and a 52 week high of $44.53. The stock has a market capitalization of $48.27 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.10 and a beta of 1.51. The company’s fifty day moving average is $39.22 and its two-hundred day moving average is $40.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84.

Analyst Upgrades and Downgrades

SDVKY has been the topic of several recent research reports. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Finally, Citigroup downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sandvik currently has an average rating of “Hold”.

Sandvik Company Profile

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.