Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Rises By 215.3%

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

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 report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers boosted its stake in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 as of its most recent filing with the SEC. 0.74% of the stock is owned by institutional investors.

Sandvik AB (publ) Stock Performance

Shares of SDVKY stock traded down $0.48 on Friday, reaching $21.57. The stock had a trading volume of 21,956 shares, compared to its average volume of 71,417. 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 firm’s 50-day moving average is $20.01 and its two-hundred day moving average is $19.98. The firm has a market capitalization of $27.06 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.00 and a beta of 1.46. Sandvik AB has a 12 month low of $17.76 and a 12 month high of $23.50.

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