Blackline Safety (TSE:BLN) Stock Price Up 1% – Still a Buy?

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Ventum Cap Mkts raised shares of Blackline Safety to a “strong-buy” rating in a research report on Wednesday, September 4th. TD Securities boosted their target price on shares of Blackline Safety from C$6.00 to C$7.50 in a research report on Thursday, September 12th. Raymond James raised their price target on shares of Blackline Safety from C$7.00 to C$8.00 in a research report on Thursday, September 19th. Ventum Financial boosted their price objective on Blackline Safety from C$6.50 to C$7.00 in a report on Thursday, September 12th. Finally, ATB Capital increased their price objective on Blackline Safety from C$6.00 to C$7.50 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Blackline Safety currently has an average rating of “Buy” and an average price target of C$7.00.

Blackline Safety Stock Performance

The company’s 50-day simple moving average is C$6.34 and its 200 day simple moving average is C$7.53. The stock has a market cap of C$507.99 million, a P/E ratio of -27.04 and a beta of 1.54. The company has a current ratio of 2.07, a quick ratio of 3.09 and a debt-to-equity ratio of 36.48.

About Blackline Safety

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.