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

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 14,800 shares, a drop of 64.2% from the February 13th total of 41,300 shares. Based on an average daily trading volume, of 53,600 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sandvik AB (publ) currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Price Performance

SDVKY stock opened at $23.27 on Friday. The company has a market capitalization of $29.19 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.79. Sandvik AB has a 52-week low of $17.76 and a 52-week high of $23.50. The business has a 50-day simple moving average of $20.94 and a two-hundred day simple moving average of $20.13.

Sandvik AB (publ) (OTCMKTS:SDVKY) last released its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. Research analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik AB (publ) Company Profile

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.