Blackline Safety (TSE:BLN) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

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

Wall Street Analyst Weigh In

Several brokerages have commented on BLN. Ventum Financial raised their price target on shares of Blackline Safety from C$7.75 to C$8.25 and gave the company a “buy” rating in a research report on Thursday, March 13th. Canaccord Genuity Group lifted their target price on Blackline Safety from C$8.00 to C$8.50 and gave the company a “buy” rating in a report on Thursday, March 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$7.39.

Blackline Safety Trading Up 2.4 %

The stock has a market cap of C$572.54 million, a price-to-earnings ratio of -41.32 and a beta of 1.54. The business’s 50 day moving average is C$6.87 and its 200 day moving average is C$6.44. The company has a debt-to-equity ratio of 23.58, a current ratio of 1.97 and a quick ratio of 3.09.

Insider Activity at Blackline Safety

In other Blackline Safety news, Director Robert Herdman sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of C$7.25, for a total value of C$87,000.00. Insiders have sold 19,900 shares of company stock valued at $140,212 in the last ninety days. Insiders own 30.13% of the company’s stock.

Blackline Safety Company Profile

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.