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

Blackline Safety Corp. (TSE:BLN) shares crossed 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 traded.

Analyst Upgrades and Downgrades

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

Blackline Safety Trading Down 1.6%

The company has a market capitalization of C$548.14 million, a PE ratio of -63.00 and a beta of 1.29. The company has a fifty day simple moving average of C$6.77 and a 200-day simple moving average of C$6.84. The company has a current ratio of 1.97, a quick ratio of 3.09 and a debt-to-equity ratio of 23.58.

Blackline Safety (TSE:BLN) last posted its quarterly earnings results on Thursday, January 15th. The company reported C$0.02 EPS for the quarter. The business 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%. Analysts predict that Blackline Safety Corp. will post -0.05 EPS for the current 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.