DMC Global (NASDAQ:BOOM – Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.48 and traded as high as $6.92. DMC Global shares last traded at $6.85, with a volume of 70,102 shares changing hands.
Analysts Set New Price Targets
A number of equities analysts have issued reports on BOOM shares. Stifel Nicolaus raised their price target on shares of DMC Global from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of DMC Global from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of DMC Global in a research note on Wednesday, August 19th. 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 stock. According to data from MarketBeat.com, DMC Global has an average rating of “Hold” and an average price target of $9.00.
Read Our Latest Research Report on DMC Global
DMC Global Stock Performance
DMC Global (NASDAQ:BOOM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.19. DMC Global had a negative return on equity of 6.84% and a negative net margin of 3.37%.The company had revenue of $156.95 million during the quarter, compared to the consensus estimate of $148.97 million. On average, sell-side analysts anticipate that DMC Global will post -0.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On DMC Global
Several hedge funds have recently modified their holdings of BOOM. AQR Capital Management LLC acquired a new stake in DMC Global in the first quarter valued at approximately $214,000. Goldman Sachs Group Inc. lifted its holdings in DMC Global by 55.1% during 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 in the last quarter. Empowered Funds LLC lifted its holdings in DMC Global by 7.5% during 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 in the last quarter. Jane Street Group LLC grew its position in shares of DMC Global by 102.5% in the first 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 shares of DMC Global by 39.9% in the first quarter. Focus Partners Wealth now owns 70,539 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 20,110 shares during the period. 77.63% of the stock is owned by hedge funds and other institutional investors.
DMC Global Company Profile
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.
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