Blackline Safety (TSE:BLN) Trading 1% Higher – Here’s Why

Shares of Blackline Safety Corp. (TSE:BLN) rose 1% during mid-day trading on Thursday . The company traded as high as C$6.30 and last traded at C$6.29. Approximately 84,079 shares traded hands during trading, an increase of 101% from the average daily volume of 41,893 shares. The stock had previously closed at C$6.23.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BLN. Raymond James upped their price objective on Blackline Safety from C$7.00 to C$8.00 in a research report on Thursday, September 19th. National Bankshares raised their price objective on Blackline Safety from C$6.00 to C$6.50 in a report on Thursday, September 12th. Ventum Financial boosted their target price on shares of Blackline Safety from C$6.50 to C$7.00 in a report on Thursday, September 12th. TD Securities lifted their price objective on shares of Blackline Safety from C$6.00 to C$7.50 in a research report on Thursday, September 12th. Finally, Ventum Cap Mkts raised Blackline Safety to a “strong-buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blackline Safety currently has a consensus rating of “Buy” and an average target price of C$7.00.

Blackline Safety Stock Performance

The stock has a market capitalization of C$507.99 million, a price-to-earnings ratio of -27.04 and a beta of 1.54. The company has a 50 day simple moving average of C$6.34 and a 200-day simple moving average of C$7.53. The company has a quick ratio of 3.09, a current ratio of 2.07 and a debt-to-equity ratio of 36.48.

Blackline Safety Company Profile

Blackline Safety Corp. develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, and internationally. It offers G6 zero-maintenance single-gas cloud-connected gas monitors, G7c safety wearable for indoor and outdoor locations covered by 4G wireless, G7x safety wearable for remote locations, and G7 EXO area gas monitors; field-replaceable cartridges; G7 Bridge, a portable satellite base station; G7 Dock and G6 Dock; accessories used to calibrate G6, G7c, and G7x devices; and Loner Mobile, a safety monitoring application for smartphones.