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

Blackline Safety Corp. (TSE:BLN) shares crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Ventum Financial raised 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 report on Thursday, March 13th. Canaccord Genuity Group raised their price target on shares of Blackline Safety from C$8.00 to C$8.50 and gave the stock a “buy” rating in a report on Thursday, March 13th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$7.39.

Blackline Safety Trading Up 2.4 %

The company has a market cap of C$572.54 million, a PE ratio of -41.32 and a beta of 1.54. The company’s 50 day simple moving average is C$6.87 and its two-hundred day simple 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 Buying and Selling

In related news, Director Robert Herdman sold 6,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of C$6.69, for a total value of C$40,140.00. In the last quarter, insiders sold 19,900 shares of company stock valued at $140,212. Company 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.