Blackline Safety (TSE:BLN) Shares Cross Below 50 Day Moving Average - What's Next?

Blackline Safety Corp. (TSE:BLN - Get Free Report) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.57 and traded as low as C$6.55. Blackline Safety shares last traded at C$6.70, with a volume of 33,672 shares changing hands.

Analyst Upgrades and Downgrades

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

Blackline Safety Stock Performance

The company's 50 day moving average price is C$6.57 and its 200-day moving average price is C$6.61. The stock has a market cap of C$553.99 million, a P/E ratio of -39.99 and a beta of 1.54. The company has a debt-to-equity ratio of 23.58, a quick ratio of 3.09 and a current ratio of 1.97.

Insiders Place Their Bets

In related news, Director Robert Herdman sold 6,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$6.69, for a total value of C$40,140.00. 30.13% of the stock is currently owned by insiders.

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.