Blackline Safety (TSE:BLN) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Blackline Safety Corp. (TSE:BLN)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$6.96 and traded as low as C$6.49. Blackline Safety shares last traded at C$6.69, with a volume of 3,554 shares traded.

Analysts Set New Price Targets

BLN has been the topic of several research reports. TD Securities cut Blackline Safety from a “buy” rating to a “hold” rating and cut their price objective for the company from C$8.50 to C$8.00 in a research note on Friday, September 12th. Royal Bank Of Canada set a C$9.00 price target on Blackline Safety and gave the company an “outperform” rating in a research report on Thursday, December 18th. Finally, ATB Capital raised their price objective on Blackline Safety from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$8.95.

Blackline Safety Trading Up 2.1%

The firm has a market cap of C$581.43 million, a P/E ratio of -74.33 and a beta of 1.04. The company has a debt-to-equity ratio of 23.58, a quick ratio of 3.09 and a current ratio of 1.97. The firm has a fifty day moving average of C$6.96 and a 200-day moving average of C$6.95.

Blackline Safety (TSE:BLN) last issued its earnings results on Thursday, September 11th. The company reported C$0.02 earnings per share for the quarter. The firm had revenue of C$37.59 million for the quarter. Blackline Safety had a negative return on equity of 29.94% and a negative net margin of 9.90%. Equities research analysts forecast that Blackline Safety Corp. will post -0.05 earnings per share for the current year.

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. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.