DMC Global (NASDAQ:BOOM) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

DMC Global (NASDAQ:BOOM)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.33 and traded as high as $6.43. DMC Global shares last traded at $6.22, with a volume of 116,004 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded DMC Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Stifel Nicolaus boosted their price objective on DMC Global from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DMC Global in a report on Wednesday, August 19th. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

DMC Global Stock Down 0.1%

The business’s fifty day moving average price is $6.74 and its 200 day moving average price is $6.33. 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 firm has a market capitalization of $130.31 million, a PE ratio of -6.82 and a beta of 1.76.

DMC Global (NASDAQ:BOOM) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.19. The business had revenue of $156.95 million during the quarter, compared to the consensus estimate of $148.97 million. DMC Global had a negative net margin of 3.37% and a negative return on equity of 6.84%. On average, equities research analysts forecast that DMC Global will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BOOM. Cooke & Bieler LP lifted its holdings in shares of DMC Global by 0.8% during the fourth quarter. Cooke & Bieler LP now owns 1,988,267 shares of the industrial products company’s stock worth $13,302,000 after purchasing an additional 15,154 shares during the period. BlackRock Inc. acquired a new position in DMC Global in the 2nd quarter valued at $2,875,000. Hunter Associates Investment Management LLC raised its position in DMC Global by 12.2% during the 1st quarter. Hunter Associates Investment Management LLC now owns 332,985 shares of the industrial products company’s stock worth $1,737,000 after buying an additional 36,075 shares during the last quarter. Empowered Funds LLC purchased a new position in DMC Global during the 2nd quarter worth $691,000. Finally, Strs Ohio lifted its stake in shares of DMC Global by 20.6% in the 1st quarter. Strs Ohio now owns 105,800 shares of the industrial products company’s stock worth $551,000 after acquiring an additional 18,100 shares during the period. Institutional investors and hedge funds own 77.63% of the company’s stock.

About DMC Global

DMC Global Inc (NASDAQ:BOOM) is a diversified manufacturing and technology company headquartered in Broomfield, Colorado. The company develops and supplies engineered products and services for the energy, industrial, infrastructure and building markets, serving customers in North America and international markets.

DMC Global operates through businesses including DynaEnergetics, which provides advanced perforating systems, shaped charges and related equipment used primarily in oil and natural gas well completion activities.