Sandvik AB (OTCMKTS:SDVKY) Sees Large Increase in Short Interest

Key Points

• Short interest in Sandvik AB surged by 405.7% in August, reaching a total of 17,700 shares, indicating increased bearish sentiment towards the stock.
• Hedge funds displayed significant activity, with GAMMA Investing LLC increasing its holdings in Sandvik by over 3,893% during the first quarter.
• Sandvik stock is currently trading at $24.98, with analysts maintaining a "Moderate Buy" rating, reflecting positive expectations for the company's future performance.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 17,700 shares, anincreaseof405.7% from the July 31st total of 3,500 shares. Based on an average daily trading volume, of 47,000 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 47,000 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Sandvik

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Sandvik by 3,893.3% during the 1st quarter. GAMMA Investing LLC now owns 117,242 shares of the industrial products company's stock valued at $2,478,000 after buying an additional 114,306 shares during the last quarter. Rhumbline Advisers grew its holdings in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock valued at $788,000 after buying an additional 4,562 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company's stock valued at $502,000 after buying an additional 3,030 shares during the last quarter. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik Stock Down 1.2%

Shares of OTCMKTS SDVKY opened at $24.98 on Wednesday. The stock has a market cap of $31.34 billion, a P/E ratio of 22.31, a PEG ratio of 1.71 and a beta of 1.56. The company has a current ratio of 1.62, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42. Sandvik has a 12-month low of $16.94 and a 12-month high of $25.85. The business's fifty day simple moving average is $24.50 and its 200-day simple moving average is $22.54.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Sandvik had a net margin of 11.89% and a return on equity of 16.54%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $29.43 billion. As a group, equities analysts predict that Sandvik will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SDVKY. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research report on Wednesday, June 25th. Barclays reiterated an "overweight" rating on shares of Sandvik in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

About Sandvik

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.

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