DMC Global (NASDAQ:BOOM) Shares Shorted: Short Interest Up 271.6% in October

DMC Global (NASDAQ:BOOM) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 531,754 shares, an increase of 271.6% from the October 15th total of 143,109 shares. Based on an average trading volume of 1,221,101 shares, the short-interest ratio is presently 0.4 days. Approximately 2.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

BOOM has been the subject of a number of research reports. Zacks Research raised shares of DMC Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Stifel Nicolaus raised their price objective on DMC Global from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings cut DMC Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, November 2nd. Finally, Wall Street Zen raised DMC Global from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Hedge Funds Weigh In On DMC Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lakewood Asset Management LLC lifted its stake in shares of DMC Global by 10.0% in the third quarter. Lakewood Asset Management LLC now owns 26,688 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 2,432 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in DMC Global during the 2nd quarter worth approximately $296,000. AXQ Capital LP purchased a new stake in DMC Global during the 2nd quarter worth approximately $101,000. Susquehanna International Group LLP increased its holdings in DMC Global by 63.6% during the 2nd quarter. Susquehanna International Group LLP now owns 50,341 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 19,566 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of DMC Global in the 2nd quarter valued at approximately $213,000. 77.63% of the stock is owned by hedge funds and other institutional investors.

DMC Global Stock Down 1.6%

Shares of BOOM traded down $0.13 during mid-day trading on Thursday, reaching $7.86. 169,627 shares of the stock traded hands, compared to its average volume of 324,309. The stock has a fifty day simple moving average of $6.40 and a 200 day simple moving average of $6.55. DMC Global has a 12-month low of $4.69 and a 12-month high of $9.79. The company has a quick ratio of 1.24, a current ratio of 2.56 and a debt-to-equity ratio of 0.19. The firm has a market cap of $161.45 million, a price-to-earnings ratio of -32.75 and a beta of 1.66.

DMC Global (NASDAQ:BOOM) last announced its earnings results on Tuesday, October 27th. The industrial products company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.37. The business had revenue of $172.83 million during the quarter, compared to the consensus estimate of $161.10 million. DMC Global had a negative net margin of 1.15% and a negative return on equity of 2.13%. Sell-side analysts expect that DMC Global will post 0.35 EPS for the current fiscal year.

About DMC Global

DMC Global Inc. (NASDAQ:BOOM) is a diversified industrial company that develops and manufactures engineered products for energy, industrial, infrastructure and building markets. The company’s operations have included businesses focused on specialty metalworking and architectural building products. Through its DMC Clad Solutions business, DMC Global supplies explosion-welded clad metals under the NobelClad brand. These products bond dissimilar metals to create corrosion-resistant and structurally capable materials used in chemical processing, oil and gas, power generation, marine, transportation and other industrial applications.