DMC Global (NASDAQ:BOOM) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• DMC Global shares moved above their 200-day moving average of $6.33, reaching $6.43 before closing at $6.22 on trading volume of 116,004 shares.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $9.00, while individual ratings range from Buy to Sell.
• DMC Global reported quarterly EPS of $0.04, beating the $0.15-per-share loss analysts expected, and revenue of $156.95 million exceeded the $148.97 million consensus estimate.

DMC Global (NASDAQ:BOOM - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.33 and traded as high as $6.43. DMC Global shares last traded at $6.22, with a volume of 116,004 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BOOM shares. Stifel Nicolaus raised their target price on shares of DMC Global from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of DMC Global from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of DMC Global in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.00.

DMC Global Price Performance

The firm has a market cap of $127.77 million, a PE ratio of -6.69 and a beta of 1.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.56 and a quick ratio of 1.19. The firm has a 50-day simple moving average of $6.73 and a 200 day simple moving average of $6.33.

DMC Global (NASDAQ:BOOM - Get Free Report) last released its earnings results on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.19. The firm had revenue of $156.95 million for the quarter, compared to the consensus estimate of $148.97 million. DMC Global had a negative net margin of 3.37% and a negative return on equity of 6.84%. As a group, equities analysts expect that DMC Global will post -0.02 EPS for the current year.

Hedge Funds Weigh In On DMC Global

A number of institutional investors and hedge funds have recently made changes to their positions in BOOM. Great Lakes Advisors LLC bought a new position in DMC Global during the 2nd quarter valued at approximately $64,000. Canada Pension Plan Investment Board purchased a new position in DMC Global during the second quarter valued at $82,000. AXQ Capital LP bought a new stake in DMC Global in the second quarter worth $101,000. Public Employees Retirement System of Ohio bought a new stake in DMC Global in the second quarter worth $107,000. Finally, Palouse Capital Management Inc. boosted its holdings in DMC Global by 141.8% in the second quarter. Palouse Capital Management Inc. now owns 18,639 shares of the industrial products company's stock worth $108,000 after acquiring an additional 10,931 shares in the last quarter. Institutional investors own 77.63% of the company's stock.

About DMC Global

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.

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