Sandvik AB (OTCMKTS:SDVKY) Short Interest Down 69.0% in August

Key Points

• Sandvik’s short interest fell 69% in August to 720 shares from 2,319 shares, representing 0.0% of shares outstanding and a days-to-cover ratio of 0.0.
• GAMMA Investing LLC increased its Sandvik holdings by 6.2% in the second quarter to 10,489 shares worth approximately $432,000; institutional investors own 0.74% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating from one Strong Buy, three Buys, seven Holds and one Sell. Sandvik shares opened at $41.37, near their $24.89–$44.53 one-year trading range.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 720 shares, a drop of 69.0% from the July 30th total of 2,319 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 342,980 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its holdings in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,489 shares of the industrial products company's stock after buying an additional 616 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. Institutional investors own 0.74% of the company's stock.

Analysts Set New Price Targets

SDVKY has been the topic of several recent research reports. Zacks Research lowered shares of Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research report on Thursday, June 18th. Finally, Kepler Capital Markets lowered Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sandvik currently has a consensus rating of "Hold".

Sandvik Stock Down 0.8%

OTCMKTS:SDVKY opened at $41.37 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. Sandvik has a one year low of $24.89 and a one year high of $44.53. The stock has a 50-day simple moving average of $38.89 and a 200 day simple moving average of $40.12.

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.

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