Black Diamond Group (TSE:BDI) Shares Cross Above 200-Day Moving Average – Time to Sell?

Black Diamond Group Limited (TSE:BDI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.67 and traded as high as C$16.75. Black Diamond Group shares last traded at C$16.49, with a volume of 114,044 shares.

Wall Street Analysts Forecast Growth

BDI has been the subject of several analyst reports. Raymond James Financial cut shares of Black Diamond Group from a “strong-buy” rating to a “moderate buy” rating and boosted their target price for the company from C$18.00 to C$20.00 in a research note on Tuesday, January 20th. BMO Capital Markets upped their target price on Black Diamond Group from C$18.00 to C$20.00 in a report on Friday, January 16th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Black Diamond Group presently has a consensus rating of “Buy” and an average target price of C$18.50.

Black Diamond Group Stock Performance

The firm has a 50-day simple moving average of C$15.02 and a 200 day simple moving average of C$13.67. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 88.46. The company has a market cap of C$1.11 billion, a price-to-earnings ratio of 28.43 and a beta of 0.85.

Black Diamond Group (TSE:BDI) last announced its quarterly earnings data on Thursday, October 30th. The company reported C$0.18 EPS for the quarter. Black Diamond Group had a net margin of 6.46% and a return on equity of 8.11%. The firm had revenue of C$105.32 million during the quarter. On average, sell-side analysts predict that Black Diamond Group Limited will post 0.5349233 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Wagemakers sold 20,000 shares of Black Diamond Group stock in a transaction on Friday, November 21st. The shares were sold at an average price of C$14.10, for a total value of C$282,000.00. Following the completion of the sale, the director owned 543,580 shares in the company, valued at approximately C$7,664,478. The trade was a 3.55% decrease in their ownership of the stock. 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.