Short Interest in Sandvik AB (OTCMKTS:SDVKY) Grows By 494.2%

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 4,278 shares, a growth of 494.2% from the August 15th total of 720 shares. Based on an average trading volume of 368,950 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC. 0.74% of the stock is currently owned by institutional investors.

Sandvik Stock Up 0.7%

Shares of Sandvik stock opened at $39.87 on Friday. Sandvik has a twelve month low of $26.72 and a twelve month high of $44.53. The stock has a market cap of $50.01 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $38.73 and a 200 day moving average price of $39.95.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SDVKY. Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Berenberg Bank upgraded shares of Sandvik to a “hold” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

About Sandvik

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik’s business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.