Blackline Safety (TSE:BLN) Share Price Passes Below Fifty Day Moving Average - Should You Sell?

Key Points

• Blackline Safety Corp.'s share price has fallen below its 50-day moving average of C$7.09, trading as low as C$7.04.
• Analysts have differing opinions: ATB Capital upgraded its target price to C$11.00 while TD Securities downgraded it to C$8.00 from a previous buy rating.
• The stock currently has an average rating of "Moderate Buy" with an average price target of C$8.94, indicating some positive sentiment among analysts.

Blackline Safety Corp. (TSE:BLN - Get Free Report) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$7.09 and traded as low as C$7.04. Blackline Safety shares last traded at C$7.11, with a volume of 38,317 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLN shares. ATB Capital lifted their target price on shares of Blackline Safety from C$10.00 to C$11.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. TD Securities cut shares of Blackline Safety from a "buy" rating to a "hold" rating and cut their target price for the stock from C$8.50 to C$8.00 in a research report on Friday, September 12th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$8.94.

Blackline Safety Trading Up 0.9%

The firm has a market capitalization of C$617.94 million, a PE ratio of -79.00 and a beta of 0.84. The company has a quick ratio of 3.09, a current ratio of 1.97 and a debt-to-equity ratio of 23.58. The business's fifty day moving average price is C$7.09 and its 200 day moving average price is C$6.96.

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.

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