Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Should You Sell?

Sandvik AB (OTCMKTS:SDVKY) gapped down prior to trading on Thursday . The stock had previously closed at $41.81, but opened at $39.48. Sandvik shares last traded at $39.4225, with a volume of 3,579 shares.

Analyst Ratings Changes

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

Sandvik Trading Down 2.9%

The company has a 50-day moving average of $38.77 and a 200 day moving average of $39.97. 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 company has a market cap of $49.74 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.52.

Institutional Inflows and Outflows

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

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.