The stock of Black Diamond Group Ltd (TSE:BDI) gapped up by $0.16 today and has $3.65 target or 8.00% above today’s $3.38 share price. The 7 months technical chart setup indicates low risk for the $151.28M company. The gap was reported on Nov, 30 by Barchart.com. If the $3.65 price target is reached, the company will be worth $12.10 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 303,015 shares traded hands or 35.01% up from the average. Black Diamond Group Ltd (TSE:BDI) has declined 28.14% since April 26, 2016 and is downtrending. It has underperformed by 33.37% 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 $9.94 average target is 194.08% above today’s ($3.38) stock price. Black Diamond Group Ltd. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Raymond James maintained Black Diamond Group Ltd (TSE:BDI) on Friday, August 14 with “Outperform” rating. Scotia Capital downgraded Black Diamond Group Ltd (TSE:BDI) rating on Wednesday, November 9. Scotia Capital has “Sector Perform” rating and $7 price target. The company was downgraded on Thursday, November 12 by Raymond James. The firm has “Sector Perform” rating given on Friday, September 11 by IBC. The firm has “Sector Perform” rating given on Friday, August 14 by RBC Capital Markets. The firm earned “Outperform” rating on Thursday, September 10 by BMO Capital Markets. The stock has “Outperform” rating given by Scotia Capital on Friday, August 14. Raymond James upgraded it to “Outperform” rating and $13.75 target price in Tuesday, August 25 report.
More news for Black Diamond Group Ltd (TSE:BDI) were recently published by: Seekingalpha.com, which released: “Black Diamond Group Limited: A Heavily Misunderstood Stock By Mr. Market” on November 28, 2016. Marketwired.com‘s article titled: “Black Diamond Group Limited Announces November Dividend and Provides Guidance …” and published on November 21, 2016 is yet another important article.
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 $151.28 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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