Sandvik AB (publ) (OTCMKTS:SDVKY) Sees Significant Increase in Short Interest

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 41,300 shares, a growth of 215.3% from the January 31st total of 13,100 shares. Based on an average daily trading volume, of 74,300 shares, the short-interest ratio is presently 0.6 days.

Sandvik AB (publ) Stock Down 2.2 %

SDVKY stock traded down $0.48 on Friday, hitting $21.57. 49,895 shares of the company’s stock were exchanged, compared to its average volume of 72,721. The firm has a 50 day moving average price of $19.94 and a two-hundred day moving average price of $19.96. Sandvik AB has a 12-month low of $17.76 and a 12-month high of $23.50. The stock has a market cap of $27.06 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.00 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.79.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. As a group, equities research analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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