Short Interest in Sandvik AB (OTCMKTS:SDVKY) Increases By 160.1%

Sandvik AB (OTCMKTS:SDVKY) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 22,143 shares, an increase of 160.1% from the April 30th total of 8,514 shares. Based on an average trading volume of 166,590 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

SDVKY has been the topic of a number of recent analyst reports. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a report on Wednesday, April 15th. Finally, Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Sandvik Stock Down 0.1%

Shares of SDVKY traded down $0.03 during trading hours on Friday, reaching $40.53. The company’s stock had a trading volume of 51,496 shares, compared to its average volume of 80,274. The firm has a market cap of $50.84 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.38 and a beta of 1.53. Sandvik has a 1-year low of $21.27 and a 1-year high of $44.53. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $40.42 and a two-hundred day moving average of $37.47.

Sandvik (OTCMKTS:SDVKY) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a return on equity of 16.92% and a net margin of 12.16%. As a group, research analysts predict that Sandvik will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its holdings in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities and Exchange Commission. 0.74% of the stock is owned by hedge funds and other institutional investors.

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.