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

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 4,581 shares, a growth of 195.2% from the June 15th total of 1,552 shares. Based on an average daily trading volume, of 532,202 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Trading of Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its holdings in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. Institutional investors own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Citigroup lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Sandvik Trading Down 1.4%

SDVKY stock traded down $0.57 during mid-day trading on Monday, reaching $39.99. 34,691 shares of the stock traded hands, compared to its average volume of 132,116. Sandvik has a 52-week low of $23.50 and a 52-week high of $44.53. The stock’s fifty day moving average is $40.46 and its 200-day moving average is $39.61. The company has a market cap of $50.16 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.16 and a beta of 1.50. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. As a group, sell-side analysts expect that Sandvik will post 1.71 earnings per share for the current year.

About Sandvik

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.