Sandvik AB (OTCMKTS:SDVKY) Shares Shorted: Short Interest Up 552.4% in October

Sandvik AB (OTCMKTS:SDVKY) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 45,592 shares, an increase of 552.4% from the October 15th total of 6,988 shares. Based on an average trading volume of 186,541 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SDVKY. Pareto Securities upgraded shares of Sandvik from a “hold” rating to a “buy” rating in a report on Thursday, October 22nd. BNP Paribas Exane lowered Sandvik to a “neutral” rating in a report on Thursday, October 1st. Nordea Equity Research upgraded Sandvik from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 23rd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Sandvik in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Sandvik Trading Down 1.3%

Sandvik stock traded down $0.48 during mid-day trading on Friday, reaching $36.11. 24,861 shares of the company traded hands, compared to its average volume of 134,851. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84. Sandvik has a 52-week low of $28.71 and a 52-week high of $44.53. The firm’s 50 day moving average price is $37.21 and its 200 day moving average price is $39.36. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 0.92 and a beta of 1.51.

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

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its holdings in Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,489 shares of the industrial products company’s stock after buying 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. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik Company Profile

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.