DMC Global (NASDAQ:BOOM) Shares Pass Above 200-Day Moving Average – Here’s What Happened

DMC Global (NASDAQ:BOOM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.61 and traded as high as $7.25. DMC Global shares last traded at $7.16, with a volume of 188,585 shares trading hands.

Analyst Upgrades and Downgrades

BOOM has been the subject of several analyst reports. Wall Street Zen upgraded DMC Global from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Roth Mkm lowered their price objective on DMC Global from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus lowered their price objective on DMC Global from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of DMC Global in a research report on Friday, May 22nd. Finally, Zacks Research upgraded DMC Global from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, DMC Global currently has a consensus rating of “Hold” and an average price target of $8.50.

DMC Global Stock Performance

The company has a 50-day moving average of $6.05 and a 200 day moving average of $6.62. The company has a quick ratio of 1.07, a current ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $139.40 million, a PE ratio of -5.36 and a beta of 1.71.

DMC Global (NASDAQ:BOOM) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $135.60 million during the quarter, compared to analysts’ expectations of $134.23 million. Equities research analysts predict that DMC Global will post -0.39 EPS for the current year.

Institutional Investors Weigh In On DMC Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cooke & Bieler LP lifted its stake in shares of DMC Global by 0.8% in the 4th quarter. Cooke & Bieler LP now owns 1,988,267 shares of the industrial products company’s stock valued at $13,302,000 after acquiring an additional 15,154 shares during the last quarter. Steel Partners Holdings L.P. bought a new position in DMC Global during the 4th quarter valued at approximately $13,200,000. Ameriprise Financial Inc. lifted its holdings in DMC Global by 3.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 923,491 shares of the industrial products company’s stock worth $7,443,000 after buying an additional 33,539 shares during the period. Gendell Jeffrey L purchased a new stake in DMC Global in the 4th quarter worth approximately $6,036,000. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of DMC Global by 12.7% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 670,390 shares of the industrial products company’s stock worth $5,665,000 after buying an additional 75,416 shares during the last quarter. Institutional investors own 77.63% of the company’s stock.

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.