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

Blackline Safety Corp. (TSE:BLN)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$6.58 and traded as low as C$6.11. Blackline Safety shares last traded at C$6.20, with a volume of 77,570 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on BLN. National Bankshares boosted their target price on Blackline Safety from C$6.00 to C$6.50 in a report on Thursday, September 12th. TD Securities upped their price objective on Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Ventum Cap Mkts raised Blackline Safety to a “strong-buy” rating in a report on Wednesday, September 4th. Raymond James upped their price target on shares of Blackline Safety from C$7.00 to C$8.00 in a report on Thursday, September 19th. Finally, ATB Capital lifted their price objective on shares of Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Blackline Safety presently has a consensus rating of “Buy” and a consensus price target of C$7.00.

Blackline Safety Stock Performance

The company has a debt-to-equity ratio of 36.48, a quick ratio of 3.09 and a current ratio of 2.07. The firm has a 50 day moving average of C$6.58 and a 200-day moving average of C$8.10. The stock has a market capitalization of C$506.35 million, a PE ratio of -26.96 and a beta of 1.54.

About Blackline Safety

Blackline Safety Corp. develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, and internationally. It offers G6 zero-maintenance single-gas cloud-connected gas monitors, G7c safety wearable for indoor and outdoor locations covered by 4G wireless, G7x safety wearable for remote locations, and G7 EXO area gas monitors; field-replaceable cartridges; G7 Bridge, a portable satellite base station; G7 Dock and G6 Dock; accessories used to calibrate G6, G7c, and G7x devices; and Loner Mobile, a safety monitoring application for smartphones.