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

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 100 shares, a decline of 99.4% from the October 15th total of 16,600 shares. Based on an average daily volume of 188,500 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

SDVKY has been the subject of a number of research analyst reports. Barclays raised shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Citigroup upgraded Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd.

Sandvik AB (publ) Price Performance

OTCMKTS:SDVKY opened at $18.30 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.58. The company has a 50-day moving average of $20.46 and a 200-day moving average of $20.62. Sandvik AB has a 52 week low of $18.09 and a 52 week high of $23.50. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.99 and a beta of 1.50.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Sandvik AB (publ) had a return on equity of 16.56% and a net margin of 9.93%. The business had revenue of $2.91 billion for the quarter. As a group, equities research analysts anticipate that Sandvik AB will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers raised its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,045 shares of the industrial products company’s stock after acquiring an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent filing with the SEC. Institutional investors own 0.74% of the company’s stock.

About Sandvik AB (publ)

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.