Stifel Nicolaus Issues Pessimistic Forecast for DMC Global (NASDAQ:BOOM) Stock Price

DMC Global (NASDAQ:BOOM) had its price target reduced by Stifel Nicolaus from $8.00 to $7.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 23.46% from the stock’s previous close.

Several other equities research analysts have also recently commented on BOOM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DMC Global in a research report on Monday, December 29th. Roth Mkm lowered their price objective on shares of DMC Global from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Wall Street Zen cut DMC Global from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research downgraded DMC Global from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $8.50.

DMC Global Trading Down 3.4%

Shares of DMC Global stock traded down $0.20 on Tuesday, hitting $5.67. The stock had a trading volume of 303,290 shares, compared to its average volume of 280,000. The company has a quick ratio of 1.24, a current ratio of 2.50 and a debt-to-equity ratio of 0.20. DMC Global has a one year low of $5.46 and a one year high of $9.20. The stock’s 50-day simple moving average is $7.78 and its two-hundred day simple moving average is $7.27. The stock has a market cap of $116.16 million, a price-to-earnings ratio of -6.37 and a beta of 1.57.

DMC Global (NASDAQ:BOOM) last announced its quarterly earnings results on Monday, February 23rd. The industrial products company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.39). The firm had revenue of $143.53 million for the quarter, compared to analysts’ expectations of $142.37 million. DMC Global had a negative net margin of 3.01% and a negative return on equity of 2.77%. As a group, sell-side analysts predict that DMC Global will post -0.23 EPS for the current year.

Insider Buying and Selling at DMC Global

In related news, insider James Schladen sold 17,718 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was 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 in the company, valued at approximately $3,197,748. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DMC Global

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