Blackline Safety (TSE:BLN) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Blackline Safety Corp. (TSE:BLN) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$6.32 and traded as low as C$6.23. Blackline Safety shares last traded at C$6.31, with a volume of 7,200 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLN. Raymond James lifted their price target on shares of Blackline Safety from C$7.00 to C$8.00 in a research report on Thursday, September 19th. TD Securities boosted their price objective on Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. National Bankshares increased their price target on shares of Blackline Safety from C$6.00 to C$6.50 in a research report on Thursday, September 12th. ATB Capital increased their target price on shares of Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Finally, Ventum Cap Mkts raised Blackline Safety to a “strong-buy” rating in a research report on Wednesday, September 4th. One 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. According to MarketBeat.com, Blackline Safety presently has an average rating of “Buy” and a consensus price target of C$7.00.

Blackline Safety Price Performance

The stock has a fifty day simple moving average of C$6.26 and a 200-day simple moving average of C$7.99. The company has a market capitalization of C$515.34 million, a PE ratio of -27.43 and a beta of 1.54. The company has a current ratio of 2.07, a quick ratio of 3.09 and a debt-to-equity ratio of 36.48.

Blackline Safety Company Profile

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.