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

Key Points

• DMC Global’s short interest surged 271.6% in the second half of October to 531,754 shares, equal to 2.8% of shares outstanding; the days-to-cover ratio was 0.4.
• The company beat quarterly estimates, reporting EPS of $0.48 versus $0.11 expected and revenue of $172.83 million versus $161.10 million forecast.
• Analyst views were mixed, but MarketBeat’s average rating was “Moderate Buy” with a $9.00 price target. Shares traded at $7.86 in the cited session, down 1.6%.

DMC Global (NASDAQ:BOOM - Get Free Report) was the recipient of a large increase in short interest in 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 daily trading volume, of 1,221,101 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

BOOM has been the topic of a number of analyst reports. Wall Street Zen upgraded DMC Global from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 31st. Zacks Research raised DMC Global from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Stifel Nicolaus upped 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. Finally, Weiss Ratings lowered DMC Global from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DMC Global currently has an average rating of "Moderate Buy" and an average price target of $9.00.

DMC Global Trading Down 1.6%

Shares of DMC Global stock traded down $0.13 during trading hours on Thursday, reaching $7.86. 169,627 shares of the company's stock were exchanged, compared to its average volume of 324,309. DMC Global has a 52-week low of $4.69 and a 52-week high of $9.79. The company has a fifty day moving average of $6.40 and a 200-day moving average of $6.55. The company has a current ratio of 2.56, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $161.45 million, a price-to-earnings ratio of -32.75 and a beta of 1.66.

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

Institutional Trading of DMC Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in DMC Global by 9.5% in the first quarter. Bank of America Corp DE now owns 18,641 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 1,623 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in shares of DMC Global by 10.0% during the 3rd quarter. Lakewood Asset Management LLC now owns 26,688 shares of the industrial products company's stock worth $149,000 after purchasing an additional 2,432 shares during the period. Palouse Capital Management Inc. increased its position in DMC Global by 141.8% during the 2nd quarter. Palouse Capital Management Inc. now owns 18,639 shares of the industrial products company's stock worth $108,000 after purchasing an additional 10,931 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in DMC Global during the 2nd quarter worth approximately $64,000. Finally, Quantinno Capital Management LP raised its holdings in DMC Global by 14.8% in the first quarter. Quantinno Capital Management LP now owns 90,540 shares of the industrial products company's stock valued at $472,000 after buying an additional 11,669 shares during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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