Focusrite (LON:TUNE) Share Price Passes Above 50-Day Moving Average – Here’s What Happened
by Jessica Moore · The Cerbat GemFocusrite plc (LON:TUNE – Get Free Report) passed 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 trading hands.
Wall Street Analyst Weigh In
Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 355 target price on shares of Focusrite in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Focusrite has a consensus rating of “Buy” and a consensus price target of GBX 355.
View Our Latest Analysis 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 stock has a market capitalization of £158.69 million, a P/E ratio of 30.01, a PEG ratio of 2.95 and a beta of 1.10. The stock’s fifty day moving average is GBX 253.13 and its 200-day moving average is GBX 214.32.
Focusrite (LON:TUNE – Get Free Report) last announced its quarterly earnings results on Monday, June 29th. The company reported GBX 15.04 earnings per share for the quarter. Focusrite had a negative return on equity of 3.62% and a negative net margin of 2.52%. On average, equities analysts anticipate that Focusrite plc will post 17.2473868 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Ian Barkshire bought 87,280 shares of Focusrite stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average cost of GBX 200 per share, for a total transaction of £174,560. Company insiders own 34.45% of the company’s stock.
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.