Sandvik AB (publ) (OTCMKTS:SDVKY – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 3,600 shares, a decline of 34.5% from the September 15th total of 5,500 shares. Based on an average daily volume of 60,700 shares, the short-interest ratio is currently 0.1 days.
Wall Street Analysts Forecast Growth
Separately, Barclays upgraded Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.
Get Our Latest Stock Report on SDVKY
Sandvik AB (publ) Stock Performance
Sandvik AB (publ) (OTCMKTS:SDVKY – Get Free Report) last released its earnings results on Friday, July 19th. The industrial products company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. The firm had revenue of $2.94 billion during the quarter. As a group, equities research analysts predict that Sandvik AB will post 1.26 EPS for the current year.
Institutional Trading of Sandvik AB (publ)
A hedge fund recently raised its stake in Sandvik AB (publ) stock. GAMMA Investing LLC increased its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY – Free Report) by 46.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,314 shares of the industrial products company’s stock after buying an additional 1,375 shares during the period. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $96,000 as of its most recent filing with the Securities and Exchange Commission. 0.74% of the stock is currently owned by institutional investors.
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.
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