Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Drops By 64.2%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 14,800 shares, a decrease of 64.2% from the February 13th total of 41,300 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 53,600 shares, the days-to-cover ratio is currently 0.3 days.

Sandvik AB (publ) Stock Performance

Shares of SDVKY stock traded down $0.10 on Thursday, reaching $22.89. The stock had a trading volume of 90,509 shares, compared to its average volume of 85,938. 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 1 year low of $17.76 and a 1 year high of $23.50. The stock has a market cap of $28.71 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. The company has a 50 day simple moving average of $20.74 and a 200 day simple moving average of $20.10.

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

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the fourth quarter, according to the company in 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.