Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Down 54.2% in January

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 26,500 shares, a decline of 54.2% from the December 31st total of 57,800 shares. Based on an average daily volume of 302,800 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Barclays raised Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upgraded Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC raised its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,425 shares of the industrial products company’s stock after purchasing an additional 564 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik AB (publ) Trading Down 0.3 %

Shares of OTCMKTS:SDVKY traded down $0.06 during trading on Thursday, hitting $21.03. 20,529 shares of the company’s stock were exchanged, compared to its average volume of 121,554. The firm has a 50-day moving average price of $18.77 and a two-hundred day moving average price of $19.73. Sandvik AB has a 1-year low of $17.76 and a 1-year high of $23.50. The firm has a market cap of $26.38 billion, a P/E ratio of 22.61, a PEG ratio of 2.68 and a beta of 1.46. The company has a current ratio of 1.63, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Sandvik AB (publ) had a return on equity of 16.52% and a net margin of 9.93%. Equities analysts predict that Sandvik AB will post 0.99 earnings per share for the current year.

About Sandvik AB (publ)

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.