Black Diamond, Inc. (NASDAQ:BDE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $7.25 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 8.21% from the stock’s current price.

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. “

Shares of Black Diamond (NASDAQ BDE) traded up 3.08% on Tuesday, hitting $6.70. The stock had a trading volume of 55,144 shares. The company’s 50 day moving average is $6.61 and its 200 day moving average is $5.87. Black Diamond has a one year low of $4.15 and a one year high of $7.10.

Black Diamond (NASDAQ:BDE) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. Black Diamond had a negative net margin of 4.24% and a negative return on equity of 0.03%. The business had revenue of $41.56 million during the quarter, compared to analysts’ expectations of $39.22 million. During the same period last year, the company posted ($0.07) EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Black Diamond will post $0.12 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of Black Diamond by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 626,300 shares of the company’s stock worth $3,351,000 after buying an additional 241,200 shares during the period. Two Sigma Investments LP boosted its position in shares of Black Diamond by 149.7% in the fourth quarter. Two Sigma Investments LP now owns 116,873 shares of the company’s stock worth $625,000 after buying an additional 70,060 shares during the period. Searle & CO. acquired a new position in shares of Black Diamond during the fourth quarter worth $300,000. Marquette Asset Management Inc. acquired a new position in shares of Black Diamond during the first quarter worth $125,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Black Diamond by 31.5% in the first quarter. Essex Investment Management Co. LLC now owns 166,712 shares of the company’s stock worth $909,000 after buying an additional 39,961 shares during the period. 44.83% of the stock is owned by institutional investors and hedge funds.

About Black Diamond

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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