Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 720 shares, a decrease of 69.0% from the July 30th total of 2,319 shares. Based on an average trading volume of 342,980 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SDVKY shares. Berenberg Bank raised shares of Sandvik to a “hold” rating in a research note on Thursday. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Finally, Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Sandvik Price Performance

Sandvik stock opened at $40.81 on Friday. Sandvik has a 52-week low of $24.89 and a 52-week high of $44.53. The firm has a market capitalization of $51.19 billion, a P/E ratio of 28.14, a PEG ratio of 1.19 and a beta of 1.51. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $38.84 and a 200-day moving average of $40.12.

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.