Sandvik AB (OTCMKTS:SDVKY) Stock Short Interest Report for October

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 45,592 shares, a growth of 552.4% from the October 15th total of 6,988 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 186,541 shares, the days-to-cover ratio is presently 0.2 days.

Sandvik Price Performance

SDVKY stock opened at $37.36 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. Sandvik has a 1 year low of $28.71 and a 1 year high of $44.53. The stock has a 50-day moving average price of $37.27 and a two-hundred day moving average price of $39.37. The stock has a market cap of $46.86 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.91 and a beta of 1.51.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Sandvik had a net margin of 13.85% and a return on equity of 20.30%. Equities analysts forecast that Sandvik will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently bought a new stake in Sandvik stock. Yousif Capital Management LLC bought a new stake in Sandvik AB (OTCMKTS:SDVKY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,686 shares of the industrial products company’s stock, valued at approximately $214,000. Institutional investors own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SDVKY shares. Nordea Equity Research raised shares of Sandvik from a “hold” rating to a “buy” rating in a research note on Friday, October 23rd. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Friday, October 23rd. Berenberg Bank raised shares of Sandvik to a “hold” rating in a research report on Thursday, August 27th. BNP Paribas Exane downgraded Sandvik to a “neutral” rating in a report on Thursday, October 1st. Finally, Pareto Securities raised Sandvik from a “hold” rating to a “buy” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Sandvik

Sandvik is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for mining, infrastructure and manufacturing customers. Founded in 1862, the company has a long history in materials and industrial engineering. Its business includes machinery and systems for mining and rock excavation, equipment and services for processing rock, and metal-cutting tools and tooling systems for industrial manufacturers. Sandvik also provides related aftermarket support and digital solutions, including technologies used in mining and manufacturing operations.