DMC Global (NASDAQ:BOOM) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• DMC Global shares moved above their 200-day moving average, reaching $6.92 and closing near $6.85, compared with the average of $6.48.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and an average price target of $9.00, while individual ratings range from Buy to Sell.
• DMC Global exceeded quarterly expectations, reporting $0.04 in adjusted EPS versus a projected loss of $0.15 and revenue of $156.95 million versus the $148.97 million consensus estimate. Institutional investors own approximately 77.6% of the company.

DMC Global (NASDAQ:BOOM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.48 and traded as high as $6.92. DMC Global shares last traded at $6.85, with a volume of 70,102 shares.

Analysts Set New Price Targets

BOOM has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of DMC Global in a research note on Wednesday, August 19th. Wall Street Zen upgraded shares of DMC Global from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Stifel Nicolaus increased their price objective on shares of DMC Global from $7.00 to $8.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $9.00.

DMC Global Stock Up 1.2%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.19 and a current ratio of 2.56. The firm's 50-day moving average is $6.64 and its two-hundred day moving average is $6.48. The stock has a market cap of $140.70 million, a P/E ratio of -7.37 and a beta of 1.74.

DMC Global (NASDAQ:BOOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 6.84% and a negative net margin of 3.37%. On average, equities research analysts anticipate that DMC Global will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On DMC Global

Several large investors have recently made changes to their positions in the company. Steel Partners Holdings L.P. bought a new stake in DMC Global during the 4th quarter worth about $13,200,000. Gendell Jeffrey L bought a new position in shares of DMC Global in the 4th quarter valued at about $6,036,000. BlackRock Inc. acquired a new stake in shares of DMC Global during the 2nd quarter worth approximately $2,875,000. Federated Hermes Inc. grew its position in shares of DMC Global by 159.3% during the 2nd quarter. Federated Hermes Inc. now owns 603,614 shares of the industrial products company's stock worth $4,865,000 after buying an additional 370,833 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of DMC Global during the fourth quarter worth approximately $1,953,000. Institutional investors and hedge funds 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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