Sandvik AB (OTCMKTS:SDVKY) Short Interest Up 160.1% in May

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant increase in short interest in 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. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 166,590 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SDVKY shares. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, April 23rd. Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Sandvik Stock Down 2.5%

Sandvik stock traded down $1.02 during trading on Monday, hitting $39.51. 5,689 shares of the company were exchanged, compared to its average volume of 124,701. The business’s 50 day moving average is $40.42 and its 200 day moving average is $37.52. Sandvik has a 52 week low of $21.32 and a 52 week high of $44.53. The company has a market capitalization of $49.56 billion, a P/E ratio of 31.11, a PEG ratio of 1.38 and a beta of 1.50. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Sandvik

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

Sandvik Company Profile

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.