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

DMC Global (NASDAQ:BOOM)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.69 and traded as high as $7.19. DMC Global shares last traded at $7.09, with a volume of 140,247 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BOOM shares. Stifel Nicolaus decreased their price objective on DMC Global from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 3rd. Roth Mkm decreased their price objective on DMC Global from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a research note on Friday, May 22nd. Wall Street Zen raised DMC Global from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Zacks Research raised DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.

DMC Global Stock Up 0.6%

The firm has a market cap of $145.13 million, a P/E ratio of -5.58 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 2.39. The firm’s fifty day moving average is $6.45 and its 200 day moving average is $6.69.

DMC Global (NASDAQ:BOOM) last announced its earnings results on Thursday, April 30th. The industrial products company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The business had revenue of $135.60 million during the quarter, compared to the consensus estimate of $134.23 million. DMC Global had a negative net margin of 4.28% and a negative return on equity of 6.02%. As a group, equities research analysts anticipate that DMC Global will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of DMC Global

Several institutional investors have recently added to or reduced their stakes in BOOM. AQR Capital Management LLC bought a new stake in shares of DMC Global in the first quarter valued at about $214,000. Goldman Sachs Group Inc. boosted its position in shares of DMC Global by 55.1% in the first quarter. Goldman Sachs Group Inc. now owns 137,128 shares of the industrial products company’s stock valued at $1,155,000 after acquiring an additional 48,732 shares during the period. Empowered Funds LLC boosted its holdings in DMC Global by 7.5% in the 1st quarter. Empowered Funds LLC now owns 102,806 shares of the industrial products company’s stock valued at $866,000 after purchasing an additional 7,216 shares during the period. Jane Street Group LLC boosted its holdings in DMC Global by 102.5% in the 1st quarter. Jane Street Group LLC now owns 27,384 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 13,864 shares during the period. Finally, Focus Partners Wealth boosted its holdings in DMC Global by 39.9% in the 1st quarter. Focus Partners Wealth now owns 70,539 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 20,110 shares during the period. 77.63% of the stock is currently owned by institutional investors.

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.