Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 29,200 shares, an increase of 349.2% from the July 15th total of 6,500 shares. Based on an average daily volume of 163,000 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently bought a new stake in Sandvik AB (publ) stock. GAMMA Investing LLC acquired a new stake in Sandvik AB (publ) (OTCMKTS:SDVKY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,939 shares of the industrial products company’s stock, valued at approximately $61,000. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik AB (publ) Stock Performance

SDVKY stock traded down $0.12 during trading on Monday, reaching $19.48. 126,000 shares of the company’s stock were exchanged, compared to its average volume of 123,948. Sandvik AB has a 1-year low of $16.31 and a 1-year high of $23.50. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $20.35 and its 200-day moving average price is $21.31. The firm has a market cap of $24.44 billion, a PE ratio of 20.29, a P/E/G ratio of 2.24 and a beta of 1.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last released its quarterly earnings data on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $2.94 billion for the quarter. Sandvik AB (publ) had a return on equity of 16.72% and a net margin of 10.36%. On average, research analysts expect that Sandvik AB will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DNB Markets raised Sandvik AB (publ) from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th.

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.