BOOM had a rough day on Thursday, trading down over 13% after the company announced their Q1 earnings, and also announced an upcoming 5.2 million share secondary. Volume was high on Thursday, with over 2 million shares of the stock changing hands, compared to a normal daily average of just over 780k. BOOM reported Q1 sales of $25.2 million dollars and gross margins of 37%. Net income was 45 cents per share, compared to last year’s 28 cents per share. Also, the company reported a cash position of $13.1 million dollars. As I already mentioned, BOOM also announced that they have filed for a 5.2 million share secondary, which no doubt contributed to the selling pressure on Thursday.
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