DMC Global (NASDAQ:BOOM) Stock Crosses Above 200 Day Moving Average – Here’s Why

DMC Global (NASDAQ:BOOM) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $6.55 and traded as high as $7.74. DMC Global shares last traded at $7.73, with a volume of 7,646,125 shares traded.

Analysts Set New Price Targets

BOOM has been the topic of a number of research analyst reports. Zacks Research raised DMC Global from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Wall Street Zen upgraded DMC Global from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a research note on Wednesday, August 19th. Finally, Stifel Nicolaus lifted their price target on shares of DMC Global from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

DMC Global Trading Up 10.3%

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.56 and a quick ratio of 1.19. The business has a 50-day moving average of $6.22 and a 200-day moving average of $6.57. The firm has a market cap of $192.05 million, a price-to-earnings ratio of -38.96 and a beta of 1.80.

DMC Global (NASDAQ:BOOM) last released its earnings results on Tuesday, October 27th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.37. DMC Global had a negative return on equity of 2.13% and a negative net margin of 1.15%. The company had revenue of $172.83 million for the quarter, compared to analyst estimates of $161.10 million. Research analysts anticipate that DMC Global will post 0.35 EPS for the current year.

Institutional Investors Weigh In On DMC Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lakewood Asset Management LLC raised its stake in DMC Global by 10.0% during the 3rd quarter. Lakewood Asset Management LLC now owns 26,688 shares of the industrial products company’s stock worth $149,000 after buying an additional 2,432 shares during the period. Squarepoint Ops LLC acquired a new stake in DMC Global in the 2nd quarter valued at $296,000. AXQ Capital LP acquired a new stake in DMC Global in the 2nd quarter valued at $101,000. Susquehanna International Group LLP grew its position in DMC Global by 63.6% in the 2nd quarter. Susquehanna International Group LLP now owns 50,341 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 19,566 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in DMC Global during the 2nd quarter valued at $213,000. 77.63% of the stock is currently owned by institutional investors.

DMC Global Company Profile

DMC Global Inc (NASDAQ:BOOM) is a diversified industrial company that develops and manufactures engineered products for energy, industrial, infrastructure and building markets. The company’s operations have included businesses focused on specialty metalworking and architectural building products.

Through its DMC Clad Solutions business, DMC Global supplies explosion-welded clad metals under the NobelClad brand. These products bond dissimilar metals to create corrosion-resistant and structurally capable materials used in chemical processing, oil and gas, power generation, marine, transportation and other industrial applications.