Sandvik AB (OTCMKTS:SDVKY) Sees Significant Drop in Short Interest

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 7,200 shares, a decrease of 49.3% from the May 15th total of 14,200 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 65,800 shares, the days-to-cover ratio is presently 0.1 days.

Sandvik Price Performance

Shares of Sandvik stock traded down $0.31 on Wednesday, hitting $21.88. 25,142 shares of the company traded hands, compared to its average volume of 70,133. Sandvik has a 52 week low of $16.94 and a 52 week high of $23.47. The business has a 50-day simple moving average of $21.26 and a 200 day simple moving average of $20.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 1.85. The stock has a market capitalization of $27.44 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.53.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Sandvik had a net margin of 11.95% and a return on equity of 16.64%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $30.25 billion. Research analysts expect that Sandvik will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its position in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) by 3,893.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,242 shares of the industrial products company's stock after acquiring an additional 114,306 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.74% of the stock is owned by institutional investors.

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.