Blackline Safety (TSE:BLN) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Blackline Safety Corp. (TSE:BLN)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$6.53 and traded as low as C$6.10. Blackline Safety shares last traded at C$6.16, with a volume of 64,443 shares changing hands.

Analysts Set New Price Targets

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

Blackline Safety Trading Up 0.6%

The company’s fifty day simple moving average is C$6.51 and its two-hundred day simple moving average is C$6.80. The company has a market capitalization of C$539.44 million, a price-to-earnings ratio of -62.00 and a beta of 0.92. The company has a quick ratio of 3.09, a current ratio of 1.97 and a debt-to-equity ratio of 23.58.

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