Short Interest in DMC Global Inc. (NASDAQ:BOOM) Grows By 16.7%

DMC Global Inc. (NASDAQ:BOOM) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 482,000 shares, an increase of 16.7% from the August 31st total of 413,000 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 226,700 shares, the short-interest ratio is currently 2.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in DMC Global in the 1st quarter worth about $26,000. PNC Financial Services Group Inc. lifted its position in shares of DMC Global by 82.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,343 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 606 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of DMC Global in the second quarter worth approximately $25,000. CWM LLC boosted its holdings in shares of DMC Global by 1,245.4% during the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 2,553 shares during the period. Finally, BNP Paribas Financial Markets grew its position in DMC Global by 68.4% during the first quarter. BNP Paribas Financial Markets now owns 9,783 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 3,974 shares in the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.

DMC Global Trading Up 1.9 %

Shares of BOOM traded up $0.24 during midday trading on Friday, hitting $13.00. The stock had a trading volume of 222,100 shares, compared to its average volume of 263,329. DMC Global has a fifty-two week low of $10.45 and a fifty-two week high of $25.16. The business has a 50-day simple moving average of $12.19 and a two-hundred day simple moving average of $14.21. The company has a current ratio of 2.53, a quick ratio of 1.15 and a debt-to-equity ratio of 0.20. The firm has a market cap of $260.52 million, a P/E ratio of 10.66 and a beta of 1.63.

DMC Global (NASDAQ:BOOM) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. DMC Global had a net margin of 2.29% and a return on equity of 6.06%. The firm had revenue of $171.18 million during the quarter, compared to analyst estimates of $165.45 million. During the same quarter last year, the business posted $0.72 EPS. As a group, equities analysts forecast that DMC Global will post 0.95 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on DMC Global from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Roth Mkm reaffirmed a “buy” rating and set a $24.00 target price on shares of DMC Global in a report on Wednesday, July 31st.

DMC Global Company Profile

DMC Global Inc provides a suite of engineered products and various solutions for the construction, energy, industrial processing, and transportation markets worldwide. The company operates through three segments: Arcadia, DynaEnergetics, and NobelClad. The Arcadia segment manufactures, assembles, and sells architectural building products, including exterior and interior framing systems, curtain walls, windows, doors, and interior partitions; architectural components, architectural framing systems, entrance systems, and sun control products; sliding and glazing systems; and thermally broken steel, aluminum windows and doors, and wood doors and windows.