Sandvik AB (publ) (OTCMKTS:SDVKY) Sees Large Growth in Short Interest

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 44,300 shares, a growth of 199.3% from the February 28th total of 14,800 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 264,600 shares, the short-interest ratio is presently 0.2 days.

Sandvik AB (publ) Stock Down 2.5 %

Shares of OTCMKTS:SDVKY opened at $21.87 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.79 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $21.83 and its 200 day moving average is $20.29. The stock has a market cap of $27.43 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. Sandvik AB has a 52-week low of $17.76 and a 52-week high of $23.47.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. Sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers grew its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,707 shares of the industrial products company’s stock after purchasing an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein raised shares of Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sandvik AB (publ) currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Company Profile

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.