Blackline Safety (TSE:BLN) Stock Passes Below Fifty Day Moving Average – Here’s Why

Shares of Blackline Safety Corp. (TSE:BLN) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$7.08 and traded as low as C$6.87. Blackline Safety shares last traded at C$7.02, with a volume of 61,341 shares traded.

Wall Street Analyst Weigh In

BLN has been the subject of several analyst reports. TD Securities cut shares of Blackline Safety from a “buy” rating to a “hold” rating and dropped their price target for the company from C$8.50 to C$8.00 in a research note on Friday, September 12th. ATB Capital upped their price objective on Blackline Safety from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackline Safety presently has a consensus rating of “Moderate Buy” and a consensus price target of C$8.94.

Blackline Safety Price Performance

The company has a fifty day moving average of C$7.08 and a 200-day moving average of C$7.01. The company has a current ratio of 1.97, a quick ratio of 3.09 and a debt-to-equity ratio of 23.58. The stock has a market cap of C$614.46 million, a PE ratio of -78.56 and a beta of 1.04.

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