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

Sandvik AB (OTCMKTS:SDVKY) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 2,319 shares, a drop of 91.1% from the July 15th total of 26,010 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 256,123 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

SDVKY has been the topic of several recent research reports. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sandvik presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its stake in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent SEC filing. 0.74% of the stock is currently owned by institutional investors and hedge funds.

Sandvik Price Performance

Shares of SDVKY stock opened at $38.48 on Wednesday. The stock has a 50 day moving average price of $39.17 and a 200 day moving average price of $40.15. Sandvik has a 52-week low of $24.51 and a 52-week high of $44.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The firm has a market capitalization of $48.27 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.10 and a beta of 1.51.

Sandvik Company Profile

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.