EARN25

BOOM Stock Gets Boost on Guidance Lift

The equity just touched 11-year highs

Digital Content Manager
Apr 3, 2019 at 10:35 AM
facebook X logo linkedin


The shares of DMC Global Inc (NASDAQ:BOOM) are flying today after the metals expert lifted its first-quarter sales forecast to roughly $100 million. The company cited its rapidly growing oilfield products arm, DynaEnergetics, and strong sales from its explosive welding business, NobelClad. As a result, BOOM stock is up 19% at $60, trading at 11-year highs.

DMC Global stock has been a technical outperformer in 2019, shooting up 37.5% in late February on an earnings bull gap. A familiar area of pressure at the $50 level caused the equity to pull back some, but emerging support at the 20-day moving average provided a quick recovery. Plus, today's pop has BOOM 71.5% north of its year-to-date breakeven. 

Analysts are optimistic on the stock's recent climb up the charts. BOOM currently boasts three "strong buy" and two "buy" ratings. Plus, the consensus 12-month target price of $54 now represents a sharp discount to current levels, which might spark more upgrades, should the stock continue to rise. 

Short sellers, however, are still hanging on. Short interest spiked 46.6% in the last two reporting periods. The 425,877 shares sold short now represent nearly four times the stock's average daily trading volume. 

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!