Sandvik AB (OTCMKTS:SDVKY) Stock Short Interest Report for October

Key Points

• Short interest rose 552.4% in October to 45,592 shares, but still represented approximately 0.0% of Sandvik’s shares; the short-interest ratio was 0.2 days.
• Analyst views were mixed, though the overall consensus was “Moderate Buy”: one analyst rated the stock Strong Buy, five Buy, five Hold, and one Sell.
• Sandvik beat quarterly expectations, reporting EPS of $0.48 versus $0.46 forecast and revenue of $3.80 billion versus $3.70 billion expected.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 45,592 shares, an increase of 552.4% from the October 15th total of 6,988 shares. Based on an average trading volume of 186,541 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company's shares are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SDVKY. Pareto Securities upgraded Sandvik from a "hold" rating to a "buy" rating in a research report on Thursday, October 22nd. Zacks Research upgraded shares of Sandvik from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 23rd. Kepler Capital Markets downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 15th. Berenberg Bank upgraded shares of Sandvik to a "hold" rating in a research report on Thursday, August 27th. Finally, Citigroup reissued a "neutral" rating on shares of Sandvik in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sandvik currently has a consensus rating of "Moderate Buy".

Sandvik Stock Performance

Shares of SDVKY opened at $37.36 on Wednesday. The company's 50 day simple moving average is $37.27 and its 200 day simple moving average is $39.37. Sandvik has a 1 year low of $28.71 and a 1 year high of $44.53. The company has a market capitalization of $46.86 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.91 and a beta of 1.51. 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 (OTCMKTS:SDVKY - Get Free Report) last released its earnings results on Thursday, October 22nd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.70 billion. Sandvik had a net margin of 13.85% and a return on equity of 20.30%. On average, sell-side analysts predict that Sandvik will post 1.72 EPS for the current year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently bought a new stake in Sandvik stock. Yousif Capital Management LLC bought a new position in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,686 shares of the industrial products company's stock, valued at approximately $214,000. Hedge funds and other institutional investors own 0.74% of the company's stock.

Sandvik Company Profile

Sandvik is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for mining, infrastructure and manufacturing customers. Founded in 1862, the company has a long history in materials and industrial engineering. Its business includes machinery and systems for mining and rock excavation, equipment and services for processing rock, and metal-cutting tools and tooling systems for industrial manufacturers. Sandvik also provides related aftermarket support and digital solutions, including technologies used in mining and manufacturing operations.

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