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

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant increase in short interest in 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 company’s shares are short sold. Based on an average daily volume of 368,950 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor 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 SEC. 0.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SDVKY has been the topic of a number of research analyst reports. Berenberg Bank upgraded Sandvik to a “hold” rating in a report on Thursday, August 27th. Zacks Research lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. 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, Sandvik currently has a consensus rating of “Hold”.

Sandvik Stock Down 3.0%

Shares of OTCMKTS SDVKY opened at $39.61 on Friday. 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 50-day moving average price of $38.75 and a 200-day moving average price of $39.95. The stock has a market capitalization of $49.69 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.17 and a beta of 1.52. Sandvik has a 1 year low of $26.68 and a 1 year high of $44.53.

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.