Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Rises By 199.3%

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 44,300 shares, an increase of 199.3% from the February 28th total of 14,800 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 264,600 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers lifted its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,707 shares of the industrial products company’s stock after acquiring an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent quarter. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik AB (publ) Trading Down 2.4 %

OTCMKTS SDVKY traded down $0.54 during trading hours on Friday, hitting $21.89. The company’s stock had a trading volume of 36,601 shares, compared to its average volume of 75,758. Sandvik AB has a twelve month low of $17.76 and a twelve month high of $23.47. The firm has a market capitalization of $27.46 billion, a P/E ratio of 23.54, a PEG ratio of 1.00 and a beta of 1.48. The company has a quick ratio of 0.94, a current ratio of 1.79 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $21.77 and a 200 day moving average of $20.28.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share 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%. Equities research analysts forecast that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

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.