Short Interest in Sandvik AB (OTCMKTS:SDVKY) Decreases By 63.2%

Key Points

• Sandvik AB experienced a significant decline in short interest, falling 63.2% from 9,500 shares to 3,500 shares by the end of July.
• Several institutional investors, including GAMMA Investing LLC and Yousif Capital Management LLC, increased their stakes in Sandvik, indicating a growing confidence in the company's prospects.
• Analysts have a consensus rating of "Moderate Buy" for Sandvik, with various ratings including buy, hold, and a strong buy from different analysts.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 3,500 shares, adropof63.2% from the July 15th total of 9,500 shares. Based on an average daily volume of 38,900 shares, the days-to-cover ratio is presently 0.1 days. Currently,0.0% of the company's stock are sold short. Currently,0.0% of the company's stock are sold short. Based on an average daily volume of 38,900 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Sandvik

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Sandvik by 3,893.3% during the first quarter. GAMMA Investing LLC now owns 117,242 shares of the industrial products company's stock worth $2,478,000 after purchasing an additional 114,306 shares during the last quarter. Rhumbline Advisers grew its position in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company's stock worth $788,000 after purchasing an additional 4,562 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of Sandvik by 15.9% in 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 period. Institutional investors and hedge funds own 0.74% of the company's stock.

Sandvik Stock Down 1.3%

Sandvik stock traded down $0.32 during midday trading on Thursday, reaching $24.86. The company's stock had a trading volume of 14,973 shares, compared to its average volume of 23,725. The stock's 50-day simple moving average is $23.93 and its 200-day simple moving average is $22.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.62 and a quick ratio of 0.86. Sandvik has a 52-week low of $16.94 and a 52-week high of $25.85. The stock has a market capitalization of $31.18 billion, a P/E ratio of 21.52, a PEG ratio of 1.70 and a beta of 1.55.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts' consensus estimates of $0.31. Sandvik had a return on equity of 16.54% and a net margin of 11.89%.The company had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $29.43 billion. On average, sell-side analysts expect that Sandvik will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a research report on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandvik has a consensus 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.