Short Interest in Sandvik AB (OTCMKTS:SDVKY) Decreases By 91.1%

Key Points

• Sandvik’s short interest fell 91.1% to 2,319 shares as of July 31, representing approximately 0.0% of shares outstanding and a 0.0-day days-to-cover ratio.
• Shares recently traded at $38.48, near the middle of their 12-month range of $24.51 to $44.53, while the company reported a $48.27 billion market capitalization and a P/E ratio of 26.54.
• Analyst sentiment is generally cautious: Sandvik has an average “Hold” rating, with seven Holds, four Buy/Strong Buy ratings, and one Sell rating; institutional investors own 0.74% of the stock.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,319 shares, a decline of 91.1% from the July 15th total of 26,010 shares. Based on an average daily volume of 256,123 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Sandvik Stock Performance

Shares of OTCMKTS SDVKY traded down $0.04 during mid-day trading on Tuesday, hitting $38.48. The company had a trading volume of 39,103 shares, compared to its average volume of 138,382. Sandvik has a 12 month low of $24.51 and a 12 month high of $44.53. The firm has a market cap of $48.27 billion, a P/E ratio of 26.54, a PEG ratio of 1.10 and a beta of 1.51. The business's 50-day simple moving average is $39.22 and its 200-day simple moving average is $40.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,489 shares of the industrial products company's stock after purchasing an additional 616 shares during the quarter. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Kepler Capital Markets lowered shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Citigroup cut shares of Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Nordea Equity Research upgraded Sandvik to a "hold" rating in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Sandvik in a research note on Thursday, June 18th. Finally, Zacks Research downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Sandvik presently has an average rating of "Hold".

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.

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