Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 720 shares, a drop of 69.0% from the July 30th total of 2,319 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 342,980 shares, the short-interest ratio is currently 0.0 days.

Sandvik Stock Down 0.8%

SDVKY opened at $41.37 on Thursday. The stock’s 50 day moving average price is $38.89 and its 200 day moving average price is $40.12. 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 cap of $51.89 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.20 and a beta of 1.51. Sandvik has a 12 month low of $24.89 and a 12 month high of $44.53.

Wall Street Analyst Weigh In

SDVKY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the 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 as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.