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

Key Points

• Technical breakout: Black Diamond shares crossed above their 200-day moving average (C$15.01), trading as high as C$16.05 and last at C$15.95 on volume of 100,555 shares.
• Analyst sentiment: Three analysts rate the stock a Buy and several firms raised price targets to C$20 (consensus target C$19.25), with BMO and Canaccord boosting targets and Raymond James moving to "moderate buy" while also raising its target.
• Insider activity: Insiders sold 23,900 shares in the past three months (notable sales of 20,000 and 3,700 shares), though insiders still own 23.83% of the company.

Black Diamond Group Limited (TSE:BDI - Get Free Report) shares crossed 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 Upgrades and Downgrades

Several research analysts have weighed in on BDI shares. BMO Capital Markets boosted their price objective on Black Diamond Group from C$18.00 to C$20.00 in a research report on Friday, January 16th. Raymond James Financial lowered Black Diamond Group from a "strong-buy" rating to a "moderate buy" rating and raised their target price for the company from C$18.00 to C$20.00 in a research 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 note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$19.25.

Black Diamond Group Trading Down 0.7%

The stock's 50 day simple moving average is C$16.50 and its two-hundred day simple moving average is C$15.01. The stock has a market capitalization of C$1.08 billion, a PE 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.

Insider Buying and Selling at Black Diamond Group

In other Black Diamond Group news, Director Elizabeth Kernaghan sold 3,700 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of C$16.10, for a total value of C$59,570.00. Following the sale, the director directly owned 752,400 shares in the company, valued at C$12,113,640. The trade was a 0.49% decrease in their ownership of the stock. Also, insider Tobias Gerald Labrie sold 20,000 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 530,215 shares in the company, valued at C$8,483,440. This represents a 3.63% decrease in their position. Over the last three months, insiders have sold 23,900 shares of company stock valued at $382,792. 23.83% of the stock is owned by corporate insiders.

Black Diamond Group Company Profile

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.

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