Blackline Safety (TSE:BLN) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Blackline Safety Corp. (TSE:BLN)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.87 and traded as low as C$6.64. Blackline Safety shares last traded at C$6.79, with a volume of 39,539 shares.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Ventum Financial increased their price objective on shares of Blackline Safety from C$7.75 to C$8.25 and gave the stock a “buy” rating in a research note on Thursday, March 13th. Canaccord Genuity Group raised their price target on Blackline Safety from C$8.00 to C$8.50 and gave the company a “buy” rating in a research note on Thursday, March 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blackline Safety presently has a consensus rating of “Buy” and a consensus price target of C$7.39.

Blackline Safety Price Performance

The company’s 50 day moving average is C$6.88 and its 200-day moving average is C$6.46. The firm has a market capitalization of C$546.40 million, a price-to-earnings ratio of -39.44 and a beta of 1.54. The company has a current ratio of 1.97, a quick ratio of 3.09 and a debt-to-equity ratio of 23.58.

Insider Activity

In other news, Director Robert Herdman sold 12,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of C$7.25, for a total value of C$87,000.00. Insiders sold a total of 19,900 shares of company stock valued at $140,212 over the last three months. Insiders own 30.13% of the company’s stock.

About Blackline Safety

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries.