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

DMC Global Inc. (NASDAQ:BOOM) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 627,200 shares, a growth of 56.2% from the May 31st total of 401,600 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average daily volume of 284,900 shares, the days-to-cover ratio is currently 2.2 days.

DMC Global Trading Up 0.5 %

NASDAQ:BOOM traded up $0.07 on Friday, reaching $14.42. The company’s stock had a trading volume of 319,271 shares, compared to its average volume of 282,339. DMC Global has a 1-year low of $11.12 and a 1-year high of $27.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.12 and a current ratio of 2.54. The firm has a market cap of $288.14 million, a PE ratio of 11.89 and a beta of 1.59. The business’s 50-day moving average price is $13.96 and its two-hundred day moving average price is $16.47.

DMC Global (NASDAQ:BOOM) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $166.87 million during the quarter, compared to analysts’ expectations of $172.35 million. DMC Global had a return on equity of 8.21% and a net margin of 3.61%. Equities research analysts anticipate that DMC Global will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOOM. Cerity Partners LLC acquired a new position in shares of DMC Global during the fourth quarter worth about $10,378,000. Wellington Management Group LLP boosted its position in shares of DMC Global by 59.8% during the fourth quarter. Wellington Management Group LLP now owns 379,128 shares of the industrial products company’s stock worth $7,135,000 after buying an additional 141,809 shares during the period. Roubaix Capital LLC acquired a new position in shares of DMC Global during the fourth quarter worth about $1,554,000. Millrace Asset Group Inc. acquired a new position in shares of DMC Global during the fourth quarter worth about $1,507,000. Finally, First Eagle Investment Management LLC boosted its position in shares of DMC Global by 62.3% during the fourth quarter. First Eagle Investment Management LLC now owns 187,774 shares of the industrial products company’s stock worth $3,534,000 after buying an additional 72,076 shares during the period. 77.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on BOOM shares. Stifel Nicolaus decreased their target price on DMC Global from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 6th. StockNews.com cut DMC Global from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

About DMC Global

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.