Black Diamond Inc (NASDAQ:BDE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Black Diamond, Inc., formerly known as Clarus Corporation, operates as a manufacturer and distributor of outdoor recreation equipment and active lifestyle products. The Company’s product range include: rock-climbing equipment (such as carabiners, protection devices, harnesses, belay and devices, helmets, ice-climbing gear), technical backpacks and high-end day packs, tents, trekking poles, headlamps and lanterns, gloves and mittens, skis, ski bindings, ski boots, ski skins and avalanche safety equipment. Black Diamond, Inc. is headquartered in Salt Lake City, Utah. “

Separately, Stifel Nicolaus downgraded shares of Black Diamond from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $5.50 to $6.00 in a research report on Tuesday, March 7th.

Black Diamond (NASDAQ:BDE) traded up 0.84% during trading on Thursday, hitting $6.00. 46,002 shares of the stock were exchanged. The stock’s 50 day moving average price is $5.52 and its 200 day moving average price is $5.69. Black Diamond has a 12 month low of $3.93 and a 12 month high of $6.85.

Black Diamond (NASDAQ:BDE) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $39.22 million. Black Diamond had a negative net margin of 18.77% and a negative return on equity of 1.89%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, equities analysts anticipate that Black Diamond will post $0.14 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Wynnefield Capital Inc. increased its stake in Black Diamond by 23.9% in the first quarter. Wynnefield Capital Inc. now owns 1,444,022 shares of the company’s stock valued at $7,870,000 after buying an additional 278,382 shares during the period. Morgan Stanley increased its stake in Black Diamond by 296.8% in the first quarter. Morgan Stanley now owns 28,964 shares of the company’s stock valued at $159,000 after buying an additional 21,665 shares during the period. Kennedy Capital Management Inc. increased its stake in Black Diamond by 1.6% in the first quarter. Kennedy Capital Management Inc. now owns 1,435,266 shares of the company’s stock valued at $7,822,000 after buying an additional 22,055 shares during the period. Geode Capital Management LLC increased its stake in Black Diamond by 0.5% in the first quarter. Geode Capital Management LLC now owns 146,884 shares of the company’s stock valued at $800,000 after buying an additional 762 shares during the period. Finally, Segantii Capital Management Ltd increased its stake in Black Diamond by 567.4% in the first quarter. Segantii Capital Management Ltd now owns 28,700 shares of the company’s stock valued at $156,000 after buying an additional 24,400 shares during the period. Hedge funds and other institutional investors own 40.79% of the company’s stock.

Black Diamond Company Profile

Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities. Its principal brands include Black Diamond and PIEPS.

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