Focusrite (LON:TUNE) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Focusrite plc (LON:TUNE) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 235.25 and traded as high as GBX 245. Focusrite shares last traded at GBX 235.05, with a volume of 63,200 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 355 price objective on shares of Focusrite in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Focusrite presently has a consensus rating of “Buy” and a consensus target price of GBX 355.

Focusrite Trading Down 3.2%

The stock has a market cap of £133.57 million, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 36.98, a quick ratio of 0.77 and a current ratio of 1.57. The firm’s fifty day simple moving average is GBX 235.42 and its 200-day simple moving average is GBX 206.21.

About Focusrite

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.