DMC Global Inc. (NASDAQ:BOOM) Sees Significant Increase in Short Interest

DMC Global Inc. (NASDAQ:BOOM) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 635,000 shares, an increase of 9.1% from the September 30th total of 581,900 shares. Based on an average daily trading volume, of 242,700 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $24.00 price objective on shares of DMC Global in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on DMC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

DMC Global Stock Performance

NASDAQ:BOOM opened at $10.09 on Friday. The stock has a fifty day moving average price of $12.05 and a 200-day moving average price of $13.18. The company has a market cap of $202.19 million, a price-to-earnings ratio of 13.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.15 and a current ratio of 2.53. DMC Global has a fifty-two week low of $9.70 and a fifty-two week high of $19.73.

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

Institutional Trading of DMC Global

Several institutional investors and hedge funds have recently modified their holdings of BOOM. PNC Financial Services Group Inc. lifted its position in shares of DMC Global by 82.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,343 shares of the industrial products company’s stock worth $25,000 after buying an additional 606 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of DMC Global during the 1st quarter worth $26,000. BNP Paribas Financial Markets increased its holdings in DMC Global by 68.4% in the 1st quarter. BNP Paribas Financial Markets now owns 9,783 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 3,974 shares in the last quarter. Hunter Associates Investment Management LLC increased its holdings in DMC Global by 4.9% in the 1st quarter. Hunter Associates Investment Management LLC now owns 342,268 shares of the industrial products company’s stock worth $6,660,000 after purchasing an additional 16,025 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in DMC Global by 8.0% in the 1st quarter. Empowered Funds LLC now owns 80,335 shares of the industrial products company’s stock worth $1,566,000 after purchasing an additional 5,950 shares in the last quarter. 77.63% of the stock is currently owned by institutional investors.

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.