Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Decreases By 99.4%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 100 shares, a drop of 99.4% from the October 15th total of 16,600 shares. Based on an average daily volume of 188,500 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SDVKY. Citigroup upgraded shares of Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group cut shares of Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd. Finally, Barclays raised shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers increased its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,045 shares of the industrial products company’s stock after buying an additional 2,750 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik AB (publ) Trading Down 1.3 %

OTCMKTS SDVKY opened at $18.30 on Thursday. Sandvik AB has a 12-month low of $18.09 and a 12-month high of $23.50. The company has a fifty day simple moving average of $20.43 and a two-hundred day simple moving average of $20.60. The company has a current ratio of 1.58, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market cap of $22.96 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.99 and a beta of 1.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $2.91 billion for the quarter. Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.56%. On average, analysts forecast that Sandvik AB will post 1.23 earnings per share for the current year.

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.