Blackline Safety (TSE:BLN) Shares Cross Above Fifty Day Moving Average – Here’s Why

Blackline Safety Corp. (TSE:BLN) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$6.39 and traded as high as C$6.85. Blackline Safety shares last traded at C$6.83, with a volume of 23,258 shares trading hands.

Analyst Ratings Changes

BLN has been the subject of several research reports. ATB Capital upped their target price on Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. Raymond James boosted their price target on shares of Blackline Safety from C$7.00 to C$8.00 in a research note on Thursday, September 19th. TD Securities increased their target price on Blackline Safety from C$6.00 to C$7.50 in a report on Thursday, September 12th. Ventum Financial increased their price objective on Blackline Safety from C$6.50 to C$7.00 in a research note on Thursday, September 12th. Finally, National Bankshares upped their price target on shares of Blackline Safety from C$6.00 to C$6.50 in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blackline Safety presently has a consensus rating of “Buy” and an average price target of C$7.00.

Blackline Safety Price Performance

The company has a market cap of C$562.71 million, a PE ratio of -29.96 and a beta of 1.54. The firm has a 50 day simple moving average of C$6.39 and a 200-day simple moving average of C$7.29. The company has a quick ratio of 3.09, a current ratio of 2.07 and a debt-to-equity ratio of 36.48.

Blackline Safety Company Profile

Blackline Safety Corp. develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, and internationally. It offers G6 zero-maintenance single-gas cloud-connected gas monitors, G7c safety wearable for indoor and outdoor locations covered by 4G wireless, G7x safety wearable for remote locations, and G7 EXO area gas monitors; field-replaceable cartridges; G7 Bridge, a portable satellite base station; G7 Dock and G6 Dock; accessories used to calibrate G6, G7c, and G7x devices; and Loner Mobile, a safety monitoring application for smartphones.