Blackline Safety (TSE:BLN) Share Price Passes Below 50 Day Moving Average – Here’s Why

Blackline Safety Corp. (TSE:BLN)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 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.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BLN shares. Raymond James lifted their target price on shares of Blackline Safety from C$7.00 to C$8.00 in a research note on Thursday, September 19th. TD Securities upped their price objective on shares of Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Ventum Cap Mkts upgraded Blackline Safety to a “strong-buy” rating in a report on Wednesday, September 4th. National Bankshares upped their price target on Blackline Safety from C$6.00 to C$6.50 in a research note on Thursday, September 12th. Finally, ATB Capital raised their price objective on Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$7.00.

Blackline Safety Trading Up 0.2 %

The company has a quick ratio of 3.09, a current ratio of 2.07 and a debt-to-equity ratio of 36.48. The company has a 50-day moving average price of C$6.58 and a 200-day moving average price of C$8.10. The company has a market capitalization of C$506.35 million, a price-to-earnings 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.