DMC Global (NASDAQ:BOOM) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

DMC Global (NASDAQ:BOOM)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.23 and traded as high as $8.68. DMC Global shares last traded at $8.58, with a volume of 158,504 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on BOOM shares. Zacks Research raised DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of DMC Global in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $8.50.

DMC Global Price Performance

The firm’s fifty day moving average price is $7.22 and its 200 day moving average price is $7.23. The firm has a market capitalization of $176.66 million, a PE ratio of -18.25 and a beta of 1.57. The company has a current ratio of 2.76, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21.

DMC Global (NASDAQ:BOOM) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $151.53 million during the quarter, compared to analyst estimates of $145.90 million. DMC Global had a negative net margin of 1.69% and a positive return on equity of 1.89%. As a group, equities analysts forecast that DMC Global will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider James Schladen sold 17,718 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $6.00, for a total transaction of $106,308.00. Following the completion of the sale, the insider owned 532,958 shares of the company’s stock, valued at $3,197,748. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On DMC Global

Several hedge funds and other institutional investors have recently modified their holdings of BOOM. AQR Capital Management LLC purchased a new position in shares of DMC Global during the 1st quarter worth $214,000. Goldman Sachs Group Inc. increased its position in DMC Global by 55.1% during the first quarter. Goldman Sachs Group Inc. now owns 137,128 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 48,732 shares during the last quarter. Empowered Funds LLC raised its stake in DMC Global by 7.5% during the first quarter. Empowered Funds LLC now owns 102,806 shares of the industrial products company’s stock worth $866,000 after purchasing an additional 7,216 shares during the period. Jane Street Group LLC boosted its holdings in DMC Global by 102.5% in the 1st quarter. Jane Street Group LLC now owns 27,384 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 13,864 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of DMC Global by 39.9% in the 1st quarter. Focus Partners Wealth now owns 70,539 shares of the industrial products company’s stock valued at $594,000 after buying an additional 20,110 shares during the period. 77.63% of the stock is owned by hedge funds and other institutional investors.

DMC Global Company Profile

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.