Sandvik AB (publ) (OTCMKTS:SDVKY) Short Interest Down 50.6% in January

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 13,100 shares, a drop of 50.6% from the January 15th total of 26,500 shares. Based on an average daily volume of 136,900 shares, the days-to-cover ratio is presently 0.1 days.

Sandvik AB (publ) Stock Up 1.8 %

Shares of Sandvik AB (publ) stock traded up $0.38 during trading on Thursday, hitting $21.52. 33,085 shares of the stock traded hands, compared to its average volume of 74,971. Sandvik AB has a 52-week low of $17.76 and a 52-week high of $23.50. The stock’s fifty day simple moving average is $19.25 and its 200 day simple moving average is $19.78. The firm has a market cap of $26.99 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.46. The company has a current ratio of 1.63, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45.

Sandvik AB (publ) (OTCMKTS:SDVKY) last posted its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Sandvik AB (publ) had a net margin of 9.92% and a return on equity of 16.32%. On average, equities analysts predict that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SDVKY has been the subject of several research analyst reports. Sanford C. Bernstein upgraded Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group cut Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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 increased its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.