Blackline Safety (TSE:BLN) Hits New 12-Month High – Here’s Why

Blackline Safety Corp. (TSE:BLN)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$7.89 and last traded at C$7.89, with a volume of 51827 shares changing hands. The stock had previously closed at C$7.72.

Analysts Set New Price Targets

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

Blackline Safety Stock Performance

The company has a 50 day moving average of C$6.93 and a two-hundred day moving average of C$6.78. The company has a debt-to-equity ratio of 23.58, a current ratio of 1.97 and a quick ratio of 3.09. The company has a market capitalization of C$661.93 million, a PE ratio of -47.78 and a beta of 1.54.

Insider Buying and Selling at Blackline Safety

In other Blackline Safety news, Director Robert Herdman sold 6,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$6.69, for a total value of C$40,140.00. 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.