Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Down 97.3% in November

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 200 shares, a decline of 97.3% from the November 15th total of 7,300 shares. Based on an average daily trading volume, of 229,700 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

A number of brokerages have weighed in on SDVKY. UBS Group downgraded shares of Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, October 23rd. Citigroup raised shares of Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Barclays upgraded Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers increased its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,045 shares of the industrial products company’s stock after purchasing an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 at the end of the most recent quarter. 0.74% of the stock is owned by institutional investors.

Sandvik AB (publ) Price Performance

Shares of OTCMKTS SDVKY remained flat at $18.92 during trading hours on Friday. The company had a trading volume of 77,090 shares, compared to its average volume of 104,343. Sandvik AB has a twelve month low of $18.09 and a twelve month high of $23.50. The company has a current ratio of 1.63, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $19.54 and a two-hundred day moving average price of $20.23. The company has a market capitalization of $23.73 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.34 and a beta of 1.46.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings data 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 16.52%. The business had revenue of $2.91 billion during the quarter. Sell-side analysts forecast that Sandvik AB will post 1.02 earnings per share for the current fiscal year.

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.