Focusrite (LON:TUNE) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Focusrite plc (LON:TUNEGet Free Report)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 251.83 and traded as high as GBX 274.50. Focusrite shares last traded at GBX 264, with a volume of 124,090 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 target price on shares of Focusrite in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 355.

Check Out Our Latest Report on Focusrite

Focusrite Price Performance

The company has a debt-to-equity ratio of 26.31, a current ratio of 3.53 and a quick ratio of 0.77. The firm has a market cap of £161.60 million, a PE ratio of 30.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The firm has a 50-day simple moving average of GBX 251.83 and a 200 day simple moving average of GBX 214.07.

Focusrite (LON:TUNEGet Free Report) last announced its quarterly earnings data on Monday, June 29th. The company reported GBX 15.04 earnings per share for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. As a group, equities analysts expect that Focusrite plc will post 17.2473868 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ian Barkshire acquired 87,280 shares of the stock in a transaction on Monday, June 29th. The stock was acquired at an average price of GBX 200 per share, for a total transaction of £174,560. 34.45% of the stock is currently owned by company insiders.

About Focusrite

(Get Free Report)

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.

Further Reading

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