DMC Global (NASDAQ:BOOM) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of DMC Global (NASDAQ:BOOM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.69 and traded as high as $7.19. DMC Global shares last traded at $7.09, with a volume of 140,247 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Stifel Nicolaus reduced their target price on shares of DMC Global from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen raised shares of DMC Global from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of DMC Global in a report on Friday, May 22nd. Finally, Roth Mkm cut their price objective on DMC Global from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.50.

DMC Global Trading Up 0.6%

The firm has a market capitalization of $145.13 million, a price-to-earnings ratio of -5.58 and a beta of 1.73. The business’s 50-day moving average price is $6.45 and its 200 day moving average price is $6.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.39 and a quick ratio of 1.07.

DMC Global (NASDAQ:BOOM) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. DMC Global had a negative net margin of 4.28% and a negative return on equity of 6.02%. The business had revenue of $135.60 million during the quarter, compared to analyst estimates of $134.23 million. On average, equities analysts forecast that DMC Global will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Steel Partners Holdings L.P. acquired a new stake in DMC Global during the 4th quarter valued at approximately $13,200,000. Gendell Jeffrey L purchased a new position in shares of DMC Global during the 4th quarter valued at approximately $6,036,000. Federated Hermes Inc. boosted its stake 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 valued at $4,865,000 after buying an additional 370,833 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of DMC Global during the fourth quarter worth approximately $1,953,000. Finally, Bridgeway Capital Management LLC grew its position in shares of DMC Global by 55.8% during the third quarter. Bridgeway Capital Management LLC now owns 319,238 shares of the industrial products company’s stock worth $2,698,000 after buying an additional 114,320 shares in the last quarter. Hedge funds and other 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.