The stock of Black Diamond Group Ltd (TSE:BDI) gapped up by $0.01 today and has $6.90 target or 121.00% above today’s $3.12 share price. The 9 months technical chart setup indicates low risk for the $127.19M company. The gap was reported on Nov, 18 by Barchart.com. If the $6.90 price target is reached, the company will be worth $153.90 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 75,469 shares traded hands. Black Diamond Group Ltd (TSE:BDI) has declined 27.32% since April 14, 2016 and is downtrending. It has underperformed by 31.75% the S&P500.
Black Diamond Group Ltd (TSE:BDI) Ratings Coverage
Out of 6 analysts covering Black Diamond Group Ltd. (TSE:BDI), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $20 is the highest target while $4.75 is the lowest. The $10.92 average target is 250.00% above today’s ($3.12) stock price. Black Diamond Group Ltd. has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Raymond James upgraded the stock to “Outperform” rating in Tuesday, August 25 report. The rating was upgraded by BMO Capital Markets on Thursday, September 10 to “Outperform”. The rating was maintained by Scotia Capital on Friday, August 14 with “Outperform”. The firm has “Sector Perform” rating by Scotia Capital given on Wednesday, November 9. The stock of Black Diamond Group Ltd (TSE:BDI) has “Sector Perform” rating given on Friday, September 11 by IBC. Raymond James downgraded the stock to “Outperform” rating in Thursday, November 12 report. The firm has “Sector Perform” rating given on Friday, August 14 by RBC Capital Markets. Raymond James maintained the shares of BDI in a report on Friday, August 14 with “Outperform” rating.
Black Diamond Group Limited is a Canada company, which rents and sells modular workforce accommodation and space rental solutions to clients in Canada, the United States and Australia. The company has a market cap of $127.19 million. The Firm offers lodging and other support services related to remote workforce accommodation and space rentals. It currently has negative earnings. It operates through the divisions, including Structures, Logistics, Energy Services and International.
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