Black Diamond Group (TSE:BDI) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Black Diamond Group Limited (TSE:BDI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.01 and traded as high as C$16.05. Black Diamond Group shares last traded at C$15.95, with a volume of 100,555 shares changing hands.

Analysts Set New Price Targets

BDI has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of Black Diamond Group from C$18.00 to C$20.00 in a report on Friday, January 16th. Canaccord Genuity Group lifted their target price on shares of Black Diamond Group from C$17.00 to C$20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, Raymond James Financial cut shares of Black Diamond Group from a “strong-buy” rating to a “moderate buy” rating and upped their price target for the company from C$18.00 to C$20.00 in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Diamond Group has an average rating of “Buy” and a consensus price target of C$19.25.

Black Diamond Group Stock Down 0.7%

The stock has a market capitalization of C$1.08 billion, a P/E ratio of 29.54 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. The stock has a fifty day moving average price of C$16.50 and a 200 day moving average price of C$15.01.

Insider Activity

In other news, Director Elizabeth Kernaghan sold 3,700 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of C$16.10, for a total transaction of C$59,570.00. Following the sale, the director directly owned 752,400 shares in the company, valued at C$12,113,640. This represents a 0.49% decrease in their ownership of the stock. Also, insider Tobias Gerald Labrie sold 20,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of C$16.00, for a total transaction of C$320,000.00. Following the completion of the sale, the insider directly owned 530,215 shares in the company, valued at approximately C$8,483,440. The trade was a 3.63% decrease in their ownership of the stock. In the last 90 days, insiders sold 23,900 shares of company stock valued at $382,792. 23.83% of the stock is owned by corporate insiders.

About Black Diamond Group

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.