Blackline Safety (TSE:BLN) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Blackline Safety Corp. (TSE:BLN)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.87 and traded as low as C$6.64. Blackline Safety shares last traded at C$6.79, with a volume of 39,539 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on BLN shares. Canaccord Genuity Group raised their price target on Blackline Safety from C$8.00 to C$8.50 and gave the stock a “buy” rating in a research report on Thursday, March 13th. Ventum Financial raised their target price on Blackline Safety from C$7.75 to C$8.25 and gave the stock a “buy” rating in a report on Thursday, March 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blackline Safety presently has a consensus rating of “Buy” and an average target price of C$7.39.

Blackline Safety Price Performance

The company has a 50 day moving average of C$6.88 and a 200 day moving average of C$6.46. 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 firm has a market cap of C$546.40 million, a price-to-earnings ratio of -39.44 and a beta of 1.54.

Insider Buying and Selling

In other Blackline Safety news, Director Robert Herdman sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of C$6.69, for a total transaction of C$40,140.00. In the last three months, insiders sold 19,900 shares of company stock valued at $140,212. 30.13% of the stock is owned by corporate insiders.

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.