Blackline Safety Corp. (OTCMKTS:BLKLF) Sees Large Increase in Short Interest

Blackline Safety Corp. (OTCMKTS:BLKLF) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,800 shares, an increase of 171.4% from the September 15th total of 1,400 shares. Based on an average daily trading volume, of 2,700 shares, the short-interest ratio is presently 1.4 days.

Several research firms recently commented on BLKLF. National Bank Financial cut their target price on shares of Blackline Safety from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 15th. Canaccord Genuity cut their target price on shares of Blackline Safety from C$10.00 to C$8.25 and set a “hold” rating on the stock in a research report on Wednesday, September 15th. Finally, TD Securities cut their target price on shares of Blackline Safety from C$13.00 to C$12.50 and set a “buy” rating on the stock in a research report on Friday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.88.

Shares of OTCMKTS BLKLF remained flat at $$5.75 during midday trading on Thursday. Blackline Safety has a 52 week low of $4.66 and a 52 week high of $7.52. The business’s 50-day simple moving average is $6.12 and its 200-day simple moving average is $6.71.

Blackline Safety Company Profile

Blackline Safety Corp., a global connected safety technology company, develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, Australia, New Zealand, and internationally. The company offers connected safety devices, including G7c, a safety wearable for indoor and outdoor locations covered by 3G wireless; G7x, a safety wearable for remote locations; G7 EXO, a cloud connected area monitor; G7 Dock, an accessory product used to calibrate G7c and G7x devices; standard cartridge for lone worker monitoring; diffusion cartridge for gas detection; pump cartridge for confined space entry and leak check gas detection services; and cloud-connected sensors that helps to customize gas detectors at work environments, as well as automated industrial contact tracing solutions.

Further Reading: Understanding Relative Strength Index

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