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

by · The Markets Daily

Sandvik AB (publ) (OTCMKTS:SDVKY – Get Free Report) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 57,800 shares, a growth of 1,826.7% from the December 15th total of 3,000 shares. Based on an average trading volume of 253,100 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC lifted its holdings in Sandvik AB (publ) (OTCMKTS:SDVKY – Free Report) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,425 shares of the industrial products company’s stock after acquiring 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 reporting period. 0.74% of the stock is currently owned by institutional investors.

Sandvik AB (publ) Stock Performance

OTCMKTS:SDVKY traded down $0.20 during mid-day trading on Monday, hitting $18.01. 169,501 shares of the company traded hands, compared to its average volume of 159,957. The stock’s fifty day moving average price is $18.61 and its 200-day moving average price is $19.78. Sandvik AB has a one year low of $17.76 and a one year high of $23.50. The company has a quick ratio of 0.85, a current ratio of 1.63 and a debt-to-equity ratio of 0.45. The firm has a market cap of $22.59 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 3.25 and a beta of 1.46.

Sandvik AB (publ) (OTCMKTS:SDVKY – Get Free Report) last released its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.52%. The company had revenue of $2.91 billion for the quarter. Research analysts anticipate that Sandvik AB will post 1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on SDVKY shares. UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. Barclays raised Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein raised Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sandvik AB (publ) currently has a consensus rating of “Moderate Buy”.

Read Our Latest Stock Analysis on Sandvik AB (publ)

About Sandvik AB (publ)

(Get Free Report)

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.

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