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

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 44,300 shares, an increase of 199.3% from the February 28th total of 14,800 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 264,600 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers lifted its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent quarter. Institutional investors own 0.74% of the company’s stock.

Sandvik AB (publ) Trading Down 2.9 %

Shares of OTCMKTS SDVKY traded down $0.68 during midday trading on Thursday, hitting $22.56. The stock had a trading volume of 37,058 shares, compared to its average volume of 77,252. The firm has a market cap of $28.30 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. Sandvik AB has a fifty-two week low of $17.76 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.79 and a quick ratio of 0.94. The company’s 50-day simple moving average is $21.69 and its 200 day simple moving average is $20.26.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its earnings results on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Sandvik AB (publ) had a net margin of 9.92% and a return on equity of 16.07%. Research analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Analyst Ratings Changes

Separately, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

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.