DMC Global (NASDAQ:BOOM) Sees Significant Drop in Short Interest

DMC Global (NASDAQ:BOOM) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 308,237 shares, a decrease of 58.8% from the June 15th total of 747,453 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 695,403 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on BOOM shares. Weiss Ratings restated a “sell (d-)” rating on shares of DMC Global in a report on Friday, May 22nd. Wall Street Zen raised DMC Global from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Zacks Research raised DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One 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’s stock. Based on data from MarketBeat.com, DMC Global currently has an average rating of “Hold” and an average price target of $8.50.

DMC Global Stock Performance

Shares of BOOM opened at $6.55 on Tuesday. The company has a market capitalization of $134.08 million, a PE ratio of -5.16 and a beta of 1.74. 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 has a one year low of $4.69 and a one year high of $9.20. The company’s fifty day moving average price is $6.81 and its 200 day moving average price is $6.71.

DMC Global (NASDAQ:BOOM) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $135.59 million during the quarter, compared to analysts’ expectations of $134.23 million. DMC Global had a negative net margin of 4.28% and a negative return on equity of 6.02%. As a group, analysts expect that DMC Global will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BOOM. AQR Capital Management LLC bought a new stake in shares of DMC Global in the first quarter valued at approximately $214,000. Goldman Sachs Group Inc. raised its stake in DMC Global by 55.1% during the 1st 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 raised its stake in DMC Global by 7.5% during the 1st 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 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 period. Finally, Focus Partners Wealth grew its position in DMC Global by 39.9% in the 1st quarter. Focus Partners Wealth now owns 70,539 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 20,110 shares during the last quarter. 77.63% of the stock is owned by institutional investors.

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.