DMC Global (NASDAQ:BOOM) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of DMC Global (NASDAQ:BOOM) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

BOOM has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of DMC Global in a research note on Monday, December 29th. Wall Street Zen lowered DMC Global from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Roth Mkm reduced their price target on DMC Global from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $9.25.

DMC Global Price Performance

Shares of NASDAQ BOOM traded up $0.03 during trading hours on Thursday, reaching $5.89. 631,971 shares of the stock traded hands, compared to its average volume of 354,846. The company has a market capitalization of $120.66 million, a P/E ratio of -6.62 and a beta of 1.57. The company has a quick ratio of 1.41, a current ratio of 2.50 and a debt-to-equity ratio of 0.20. DMC Global has a 52-week low of $5.46 and a 52-week high of $9.20. The company’s 50-day simple moving average is $7.79 and its two-hundred day simple moving average is $7.26.

DMC Global (NASDAQ:BOOM) last issued its earnings results on Monday, February 23rd. The industrial products company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.39). The firm had revenue of $143.53 million during the quarter, compared to analysts’ expectations of $142.37 million. DMC Global had a negative return on equity of 2.77% and a negative net margin of 3.01%. Equities research analysts forecast that DMC Global will post -0.23 EPS for the current year.

Insider Activity

In related news, insider James Schladen sold 17,718 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $6.00, for a total transaction of $106,308.00. Following the completion of the transaction, the insider owned 532,958 shares in the company, valued at $3,197,748. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

Institutional Trading of DMC Global

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in DMC Global in the 3rd quarter worth $31,000. Van Den Berg Management I Inc. bought a new position in DMC Global in the third quarter worth about $86,000. Jump Financial LLC bought a new position in DMC Global in the second quarter worth about $86,000. SG Americas Securities LLC purchased a new stake in DMC Global in the third quarter worth about $91,000. Finally, BNP Paribas Financial Markets boosted its position in DMC Global by 908.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,552 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 10,406 shares in the last quarter. Institutional investors own 77.63% of the company’s stock.

About DMC Global

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.