DMC Global (NASDAQ:BOOM) Short Interest Update

DMC Global (NASDAQ:BOOM) was the target of a large 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. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 695,403 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research upgraded DMC Global from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded DMC Global from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DMC Global currently has an average rating of “Hold” and an average price target of $8.50.

Institutional Investors Weigh In On DMC Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in DMC Global in the third quarter valued at $31,000. Van Den Berg Management I Inc. acquired a new position in DMC Global during the third quarter worth approximately $86,000. Jump Financial LLC purchased a new position in shares of DMC Global during the second quarter worth approximately $86,000. BNP Paribas Financial Markets raised its holdings in shares of DMC Global by 908.0% in the second quarter. BNP Paribas Financial Markets now owns 11,552 shares of the industrial products company’s stock valued at $93,000 after buying an additional 10,406 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of 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 buying an additional 1,623 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors and hedge funds.

DMC Global Trading Down 2.8%

Shares of BOOM traded down $0.18 during trading on Wednesday, reaching $6.31. 59,630 shares of the company traded hands, compared to its average volume of 322,109. The stock has a 50-day simple moving average of $6.78 and a 200-day simple moving average of $6.71. The stock has a market cap of $129.17 million, a PE ratio of -4.97 and a beta of 1.74. DMC Global has a twelve month low of $4.69 and a twelve month high of $9.20. The company has a quick ratio of 1.07, a current ratio of 2.39 and a debt-to-equity ratio of 0.21.

DMC Global (NASDAQ:BOOM) last released its quarterly 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. DMC Global had a negative return on equity of 6.02% and a negative net margin of 4.28%.The company had revenue of $135.59 million for the quarter, compared to analysts’ expectations of $134.23 million. On average, analysts anticipate that DMC Global will post -0.29 earnings per share for the current year.

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.