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

Key Points

• Short interest plunged 83.4% in September to 18,416 shares, representing approximately 0.0% of outstanding shares and just 0.1 days to cover.
• Analyst sentiment is predominantly cautious: Sandvik has an average “Hold” rating, with eight Holds, three Buys, one Strong Buy, and one Sell.
• Sandvik shares opened at $36.22, below their 50-day and 200-day moving averages of $38.59 and $39.50, respectively; the stock’s 52-week range is $27.76 to $44.53.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 18,416 shares, a decrease of 83.4% from the September 15th total of 111,254 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 148,215 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC grew its position in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,489 shares of the industrial products company's stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SDVKY. BNP Paribas Exane cut Sandvik to a "neutral" rating in a report on Thursday, October 1st. Berenberg Bank upgraded Sandvik to a "hold" rating in a research note on Thursday, August 27th. Zacks Research downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Kepler Capital Markets lowered Sandvik from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Sandvik in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold".

Sandvik Stock Performance

OTCMKTS:SDVKY opened at $36.22 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. Sandvik has a 1-year low of $27.76 and a 1-year high of $44.53. The stock has a market cap of $45.43 billion, a P/E ratio of 24.98, a PEG ratio of 0.87 and a beta of 1.51. The stock has a 50 day simple moving average of $38.59 and a 200 day simple moving average of $39.50.

About Sandvik

Sandvik AB is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for industries including mining, construction, manufacturing and infrastructure. Founded in 1862, the company has evolved from a steel producer into a global supplier of advanced industrial technologies.

Sandvik's Mining and Rock Solutions business provides underground and surface mining equipment, rock-drilling tools, ground-support systems, loading and hauling equipment, automation and related aftermarket services.

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