Sandvik (OTCMKTS:SDVKY) Shares Cross Below 50 Day Moving Average - Time to Sell?

Key Points

• Sandvik shares fell below their 50-day moving average of $39.22, trading as low as $38.48 and last changing hands at $38.52.
• Analyst sentiment has weakened, with several firms downgrading the stock to “Hold.” MarketBeat’s consensus rating is currently Hold, based on ratings from 12 analysts.
• Sandvik has a market capitalization of approximately $48.32 billion and a P/E ratio of 26.57. Institutional ownership remains limited at 0.74%, although GAMMA Investing recently increased its stake by 6.2%.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $39.22 and traded as low as $38.48. Sandvik shares last traded at $38.52, with a volume of 82,558 shares.

Wall Street Analysts Forecast Growth

SDVKY has been the subject of several recent research reports. Kepler Capital Markets lowered shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Zacks Research cut Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Citigroup cut shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Nordea Equity Research raised shares of Sandvik to a "hold" rating in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Sandvik in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Sandvik Stock Performance

The stock has a market capitalization of $48.32 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84. The stock has a 50-day moving average of $39.22 and a 200 day moving average of $40.14.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC boosted its holdings in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,489 shares of the industrial products company's stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. 0.74% of the stock is owned by institutional investors.

About Sandvik

Sandvik OTCMKTS: SDVKY is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik's core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source