ATB Capital Forecasts Strong Price Appreciation for Blackline Safety (TSE:BLN) Stock

Key Points

• ATB Capital has raised its price target for Blackline Safety (TSE:BLN) from C$10.00 to C$11.00, indicating a potential upside of 56.70% from its previous close.
• The stock currently has an "outperform" rating and has shown significant trading activity with a volume of 142,476 shares on Friday.
• Insider activity includes the purchase of 5,000 shares by Senior Officer Kevin Joseph Meyers at an average cost of C$6.50, with company insiders owning 30.13% of the stock.

Blackline Safety (TSE:BLN - Get Free Report) had its price objective boosted by ATB Capital from C$10.00 to C$11.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Capital's target price suggests a potential upside of 55.37% from the company's current price.

Blackline Safety Stock Down 3.7%

TSE:BLN traded down C$0.27 during mid-day trading on Friday, hitting C$7.08. The company had a trading volume of 142,411 shares, compared to its average volume of 69,353. The business has a fifty day simple moving average of C$6.67 and a 200-day simple moving average of C$6.85. The firm has a market capitalization of C$615.33 million, a price-to-earnings ratio of -78.67 and a beta of 1.04. Blackline Safety has a 1 year low of C$5.34 and a 1 year high of C$7.97. The company has a current ratio of 1.97, a quick ratio of 3.09 and a debt-to-equity ratio of 23.58.

Insider Transactions at Blackline Safety

In related news, Senior Officer Kevin Joseph Meyers bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was purchased at an average cost of C$6.50 per share, for a total transaction of C$32,498.00. 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.