Blackline Safety (TSE:BLN) Share Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Blackline Safety's share price has climbed above its 50-day moving average of C$6.69, reaching a high of C$7.21 before last trading at C$7.03.
• The company has a market cap of C$592.78 million and a P/E ratio of -42.79, indicating challenges in profitability.
• Insider activity includes Senior Officer Kevin Joseph Meyers purchasing 5,000 shares at C$6.50 each, reflecting a commitment by insiders who own 30.13% of the stock.

Blackline Safety Corp. (TSE:BLN - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$6.69 and traded as high as C$7.21. Blackline Safety shares last traded at C$7.03, with a volume of 81,031 shares trading hands.

Blackline Safety Stock Performance

The company has a market capitalization of C$599.88 million, a PE ratio of -76.89 and a beta of 1.08. The business's 50-day moving average is C$6.68 and its 200-day moving average is C$6.83. 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 other news, Senior Officer Kevin Joseph Meyers acquired 5,000 shares of Blackline Safety stock in a transaction on Thursday, July 17th. The stock was acquired at an average cost of C$6.50 per share, for a total transaction of C$32,498.00. Corporate 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.