Short Interest in DMC Global (NASDAQ:BOOM) Declines By 58.8%

Key Points

• Short interest in DMC Global fell sharply in June, dropping 58.8% to 308,237 shares as of June 30 from 747,453 shares two weeks earlier. That puts short interest at about 1.6% of shares outstanding and just 0.4 days to cover.
• The stock was trading near recent averages at $6.55, below its 12-month high of $9.20 but above its low of $4.69. The company’s market cap is about $134 million, and it carries a beta of 1.74.
• Recent fundamentals and analyst sentiment are mixed: DMC Global beat quarterly EPS and revenue estimates in its latest report, but still posted negative margins and is expected to report a full-year loss. Analysts currently have a consensus Hold rating with an average target price of $8.50.

DMC Global (NASDAQ:BOOM - Get Free Report) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 308,237 shares, a decline of 58.8% from the June 15th total of 747,453 shares. Based on an average trading volume of 695,403 shares, the short-interest ratio is presently 0.4 days. Approximately 1.6% of the shares of the company are short sold.

DMC Global Price Performance

Shares of NASDAQ BOOM opened at $6.55 on Tuesday. DMC Global has a twelve month low of $4.69 and a twelve month high of $9.20. The company has a current ratio of 2.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $6.81 and a two-hundred day moving average of $6.71. The company has a market capitalization of $134.08 million, a price-to-earnings ratio of -5.16 and a beta of 1.74.

DMC Global (NASDAQ:BOOM - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. The business had revenue of $135.59 million for the quarter, compared to the consensus estimate of $134.23 million. DMC Global had a negative net margin of 4.28% and a negative return on equity of 6.02%. As a group, analysts expect that DMC Global will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BOOM. Weiss Ratings reissued a "sell (d-)" rating on shares of DMC Global in a report on Friday, May 22nd. Zacks Research upgraded shares of DMC Global from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded DMC Global from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.50.

Institutional Investors Weigh In On DMC Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of DMC Global in the 3rd quarter valued at $31,000. Van Den Berg Management I Inc. acquired a new stake in DMC Global during the 3rd quarter worth about $86,000. Jump Financial LLC purchased a new stake in DMC Global during the second quarter valued at about $86,000. BNP Paribas Financial Markets boosted its stake in DMC Global by 908.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,552 shares of the industrial products company's stock worth $93,000 after purchasing an additional 10,406 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of DMC Global during the third quarter valued at $117,000. 77.63% of the stock is owned by institutional investors and hedge funds.

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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