Black Diamond Group (TSE:BDI) Shares Pass Above 200-Day Moving Average – Here’s Why

Black Diamond Group Limited (TSE:BDI)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.69 and traded as high as C$16.22. Black Diamond Group shares last traded at C$15.87, with a volume of 137,617 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on BDI. Canaccord Genuity Group upped their price target on shares of Black Diamond Group from C$17.00 to C$20.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Raymond James Financial downgraded Black Diamond Group from a “strong-buy” rating to a “moderate buy” rating and boosted their price target for the company from C$18.00 to C$20.00 in a research note on Tuesday, January 20th. Finally, BMO Capital Markets raised their price objective on Black Diamond Group from C$18.00 to C$20.00 in a research note on Friday, January 16th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$19.25.

Black Diamond Group Stock Performance

The firm’s fifty day simple moving average is C$16.50 and its 200 day simple moving average is C$14.71. The company has a market capitalization of C$1.10 billion, a PE ratio of 30.00 and a beta of 1.13. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.42 and a quick ratio of 1.05.

Insider Transactions at Black Diamond Group

In other Black Diamond Group news, insider Tobias Gerald Labrie sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of C$16.00, for a total value of C$320,000.00. Following the sale, the insider owned 530,215 shares in the company, valued at approximately C$8,483,440. This represents a 3.63% decrease in their position. Insiders own 23.83% of the company’s stock.

Black Diamond Group Company Profile

Black Diamond Group Ltd rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The company also provides specialized field rentals to the oil and gas industries of Canada and the United States. Besides, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance, and ancillary field equipment rentals. From its locations, the company serves multiple sectors including oil and gas, mining, power, construction, engineering, military, government, and education.