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

DMC Global (NASDAQ:BOOM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.21 and traded as high as $8.63. DMC Global shares last traded at $8.61, with a volume of 232,117 shares changing hands.

Wall Street Analyst Weigh In

BOOM has been the topic of a number of recent analyst reports. Zacks Research upgraded DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DMC Global in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DMC Global has a consensus rating of “Reduce” and a consensus target price of $8.50.

DMC Global Stock Up 2.0%

The stock has a market capitalization of $177.28 million, a PE ratio of -18.32 and a beta of 1.49. The business has a 50 day moving average of $6.51 and a two-hundred day moving average of $7.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 2.76.

DMC Global (NASDAQ:BOOM) last released its quarterly earnings results 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). DMC Global had a positive return on equity of 1.89% and a negative net margin of 1.69%.The firm had revenue of $151.53 million during the quarter, compared to analysts’ expectations of $145.90 million. Analysts predict that DMC Global will post -0.23 EPS for the current year.

Insider Activity at DMC Global

In other DMC Global news, insider James Schladen sold 17,718 shares of DMC Global stock in a transaction that occurred on 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 directly owned 532,958 shares in the company, valued at approximately $3,197,748. The trade was a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On DMC Global

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