Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Drops By 99.4%

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) saw a significant 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 trading volume, of 188,500 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC increased its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY - Free Report) by 14.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,425 shares of the industrial products company's stock after purchasing an additional 564 shares during the quarter. GAMMA Investing LLC's holdings in Sandvik AB (publ) were worth $99,000 as of its most recent SEC filing. 0.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SDVKY shares. UBS Group cut shares of Sandvik AB (publ) from a "neutral" rating to a "sell" rating in a research note on Wednesday, October 23rd. Citigroup raised shares of Sandvik AB (publ) to a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, Barclays upgraded Sandvik AB (publ) from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday, October 9th.

Sandvik AB (publ) Price Performance

OTCMKTS:SDVKY remained flat at $18.30 during midday trading on Thursday. The company had a trading volume of 110,656 shares, compared to its average volume of 103,837. Sandvik AB has a 52 week low of $18.09 and a 52 week high of $23.50. The stock has a market capitalization of $22.96 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.99 and a beta of 1.50. The company's 50 day simple moving average is $20.43 and its 200-day simple moving average is $20.60. The company has a quick ratio of 0.85, a current ratio of 1.58 and a debt-to-equity ratio of 0.45.

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.56%. The company had revenue of $2.91 billion during the quarter. On average, sell-side analysts anticipate that Sandvik AB will post 1.23 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.