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

Black Diamond Group Limited (TSE:BDI) 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.

Analyst Ratings Changes

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

Black Diamond Group Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.42 and a debt-to-equity ratio of 101.87. The firm has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 29.33 and a beta of 1.13. The company has a fifty day moving average price of C$16.49 and a two-hundred day moving average price of C$15.04.

Insiders Place Their Bets

In related news, Director Elizabeth Kernaghan sold 146,500 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$16.15, for a total transaction of C$2,365,975.00. Following the transaction, the director owned 605,900 shares of the company’s stock, valued at C$9,785,285. This trade represents a 19.47% decrease in their ownership of the stock. Also, insider Tobias Gerald Labrie sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of C$16.00, for a total value of C$320,000.00. Following the completion of the transaction, the insider owned 530,215 shares in the company, valued at C$8,483,440. This trade represents a 3.63% decrease in their position. Over the last 90 days, insiders sold 170,400 shares of company stock worth $2,748,767. 23.83% of the stock is currently owned by company 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.