Blackline Safety (TSE:BLN) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Blackline Safety Corp. (TSE:BLN)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$6.79 and traded as low as C$6.33. Blackline Safety shares last traded at C$6.40, with a volume of 61,826 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada set a C$9.00 price objective on shares of Blackline Safety and gave the stock an “outperform” rating in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$8.95.

Blackline Safety Trading Down 1.5%

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 company has a market cap of C$556.84 million, a PE ratio of -64.00 and a beta of 1.29. The stock has a 50 day moving average price of C$6.79 and a 200 day moving average price of C$6.85.

Blackline Safety (TSE:BLN) last issued its quarterly earnings results on Thursday, January 15th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$39.26 million for the quarter. Blackline Safety had a negative return on equity of 29.94% and a negative net margin of 9.90%. Sell-side analysts predict that Blackline Safety Corp. will post -0.05 EPS for the current fiscal year.

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. 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.