Sandvik AB (OTCMKTS:SDVKY) Short Interest Up 494.2% in August

Key Points

• Sandvik’s short interest surged 494.2% in August, rising to 4,278 shares from 720 shares, though short interest still represented 0.0% of shares outstanding and just 0.0 days of average trading volume.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating, with eight Holds, four Buy or Strong Buy ratings, and one Sell rating.
• Sandvik shares were down 3.0%, opening at $39.61, while the company reported a $49.69 billion market capitalization and a 52-week trading range of $26.68 to $44.53.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 4,278 shares, an increase of 494.2% from the August 15th total of 720 shares. Based on an average daily trading volume, of 368,950 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SDVKY. Zacks Research downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research note on Thursday, June 18th. Kepler Capital Markets cut Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Finally, Berenberg Bank upgraded shares of Sandvik to a "hold" rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Sandvik Stock Down 3.0%

Shares of OTCMKTS SDVKY opened at $39.61 on Friday. The company's 50 day moving average price is $38.75 and its 200-day moving average price is $39.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. Sandvik has a 52-week low of $26.68 and a 52-week high of $44.53. The company has a market capitalization of $49.69 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52.

Institutional Trading of Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC grew 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 13F filing with the Securities and Exchange Commission. The firm owned 10,489 shares of the industrial products company's stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 as of its most recent SEC filing. 0.74% of the stock is owned by hedge funds and other institutional investors.

About Sandvik

Sandvik AB is a Sweden-based global engineering group founded in 1862 and headquartered in Stockholm, Sweden. The company develops and manufactures equipment, tools, software and services for industries including mining, construction, manufacturing and infrastructure.

Sandvik's business activities include mining and rock excavation equipment, drilling systems, underground and surface mining machinery, rock-processing equipment, and related automation and digital solutions. The company also produces metal-cutting tools, tooling systems and other industrial solutions designed to support machining and advanced manufacturing operations.

Sandvik serves customers through operations and sales networks across Europe, North America, South America, Asia, Africa and Australia.

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