Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Down 73.2% in September

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 5,500 shares, a decline of 73.2% from the August 31st total of 20,500 shares. Based on an average daily trading volume, of 164,500 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC increased its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 46.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,314 shares of the industrial products company’s stock after purchasing an additional 1,375 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 at the end of the most recent reporting period. 0.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Sandvik AB (publ) Price Performance

Shares of OTCMKTS:SDVKY traded up $0.07 during midday trading on Friday, hitting $22.50. The company’s stock had a trading volume of 17,295 shares, compared to its average volume of 110,266. Sandvik AB has a 12-month low of $16.31 and a 12-month high of $23.50. The company has a market cap of $28.22 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.58. The business’s 50 day simple moving average is $20.31 and its 200 day simple moving average is $21.08.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. The company had revenue of $2.94 billion for the quarter. On average, analysts forecast that Sandvik AB will post 1.25 EPS for the current year.

About Sandvik AB (publ)

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.