Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Expands By 349.2%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a significant increase in short interest in the month of 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 short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, DNB Markets upgraded shares of Sandvik AB (publ) from a “hold” rating to a “buy” rating in a report on Thursday, June 13th.

Sandvik AB (publ) Trading Down 0.6 %

OTCMKTS:SDVKY traded down $0.12 on Monday, hitting $19.48. 126,000 shares of the stock were exchanged, compared to its average volume of 123,948. The stock has a market cap of $24.44 billion, a PE ratio of 20.29, a PEG ratio of 2.24 and a beta of 1.50. Sandvik AB has a fifty-two week low of $16.31 and a fifty-two week high of $23.50. The company has a current ratio of 1.62, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $20.35 and a 200-day moving average of $21.31.

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 (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). Sandvik AB (publ) had a return on equity of 16.72% and a net margin of 10.36%. The business had revenue of $2.94 billion for the quarter. As a group, equities analysts expect that Sandvik AB will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently bought a new stake in Sandvik AB (publ) stock. GAMMA Investing LLC purchased a new stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 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) Company Profile

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.