Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 26,010 shares, a growth of 467.8% from the June 30th total of 4,581 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 385,350 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SDVKY shares. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Nordea Equity Research raised Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Kepler Capital Markets cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group reiterated a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its position 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 purchasing 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 reporting period. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik Stock Up 3.6%

Sandvik stock opened at $36.36 on Monday. The company has a 50 day moving average of $39.81 and a 200-day moving average of $39.92. The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. Sandvik has a twelve month low of $23.96 and a twelve month high of $44.53. The stock has a market capitalization of $45.61 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50.

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.