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

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

Analysts Set New Price Targets

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

Sandvik AB (publ) Stock Performance

SDVKY traded down $0.54 during trading on Friday, reaching $21.89. 36,601 shares of the company’s stock were exchanged, compared to its average volume of 75,758. The company 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 business has a 50 day moving average price of $21.77 and a 200 day moving average price of $20.28. Sandvik AB has a fifty-two week low of $17.76 and a fifty-two week high of $23.47.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced 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%. As a group, analysts predict that Sandvik AB will post 1.27 earnings per share 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 lifted its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,707 shares of the industrial products company’s stock after purchasing 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 reporting period. Institutional investors and hedge funds 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.