Black Diamond Group (TSE:BDI) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Black Diamond Group Limited (TSE:BDI) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.69 and traded as high as C$16.22. Black Diamond Group shares last traded at C$15.87, with a volume of 137,617 shares trading hands.

Analyst Ratings Changes

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

Black Diamond Group Trading Down 2.0%

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 business’s fifty day moving average is C$16.44 and its 200-day moving average is C$14.69. The stock has a market capitalization of C$1.07 billion, a PE ratio of 29.39 and a beta of 1.13.

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.