DMC Global (NASDAQ:BOOM) Short Interest Down 58.8% in June

DMC Global (NASDAQ:BOOM) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 308,237 shares, a decline of 58.8% from the June 15th total of 747,453 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 695,403 shares, the days-to-cover ratio is presently 0.4 days.

DMC Global Stock Performance

Shares of DMC Global stock opened at $6.32 on Thursday. The business has a 50-day moving average price of $6.76 and a two-hundred day moving average price of $6.71. DMC Global has a 1-year low of $4.69 and a 1-year high of $9.20. The company has a current ratio of 2.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $129.36 million, a P/E ratio of -4.98 and a beta of 1.74.

DMC Global (NASDAQ:BOOM) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. DMC Global had a negative return on equity of 6.02% and a negative net margin of 4.28%.The company had revenue of $135.59 million for the quarter, compared to the consensus estimate of $134.23 million. As a group, analysts anticipate that DMC Global will post -0.29 EPS for the current year.

Institutional Trading of DMC Global

Several large investors have recently modified their holdings of BOOM. Bank of America Corp DE increased its stake in DMC Global by 9.5% during 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 purchasing an additional 1,623 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of DMC Global by 0.3% in the second quarter. Cerity Partners LLC now owns 554,254 shares of the industrial products company’s stock valued at $4,467,000 after buying an additional 1,755 shares in the last quarter. Barclays PLC grew its holdings 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 buying an additional 1,969 shares during the last quarter. Quarry LP acquired a new position in shares of DMC Global during the third quarter valued at about $31,000. Finally, FNY Investment Advisers LLC increased its position in shares of DMC Global by 45.5% during the third quarter. FNY Investment Advisers LLC now owns 15,959 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 4,989 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BOOM shares. Wall Street Zen raised DMC Global from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a research note on Friday, May 22nd. Finally, Zacks Research upgraded DMC Global from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.50.

DMC Global Company Profile

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.