DMC Global (NASDAQ:BOOM) Stock Passes Above 200 Day Moving Average – Here’s Why

DMC Global (NASDAQ:BOOM)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.55 and traded as high as $7.73. DMC Global shares last traded at $7.30, with a volume of 109,727 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BOOM shares. Wall Street Zen upgraded shares of DMC Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a research note on Friday, May 22nd. Stifel Nicolaus boosted their target price on shares of DMC Global from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of DMC Global from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, DMC Global has a consensus rating of “Hold” and a consensus price target of $9.00.

DMC Global Stock Down 3.0%

The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $145.42 million, a price-to-earnings ratio of -7.61 and a beta of 1.74. The business has a 50-day moving average price of $6.64 and a 200-day moving average price of $6.54.

DMC Global (NASDAQ:BOOM) last released its earnings results on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.19. The company had revenue of $156.95 million during the quarter, compared to analyst estimates of $148.97 million. DMC Global had a negative return on equity of 6.84% and a negative net margin of 3.37%. As a group, equities analysts anticipate that DMC Global will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in DMC Global by 9.5% in the 1st quarter. Bank of America Corp DE now owns 18,641 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 1,623 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of DMC Global by 0.3% during the 2nd quarter. Cerity Partners LLC now owns 554,254 shares of the industrial products company’s stock worth $4,467,000 after purchasing an additional 1,755 shares in the last quarter. Barclays PLC increased its position in shares of DMC Global by 5.6% during the fourth quarter. Barclays PLC now owns 36,964 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 1,969 shares during the period. Quarry LP bought a new stake in shares of DMC Global during the third quarter valued at approximately $31,000. Finally, Invesco Ltd. raised its stake in shares of DMC Global by 11.3% in the fourth quarter. Invesco Ltd. now owns 50,783 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 5,141 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

About DMC Global

DMC Global Inc (NASDAQ: BOOM) is a diversified industrial company headquartered in Houston, Texas. It operates through two core business segments—EVI and MECO—that deliver engineered products and services primarily to the mining, oil and gas, and water treatment markets. The company focuses on innovation, precision manufacturing and aftermarket support to help clients improve operational efficiency and safety in challenging environments.

The EVI segment, operating under the DynaEnergetics brand, designs and manufactures explosive perforating systems, well completion tools and precision components for the non-metallic mining and oilfield services industries.