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

Focusrite plc (LON:TUNE)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 160.14 ($2.15) and traded as high as GBX 184.70 ($2.48). Focusrite shares last traded at GBX 184.70 ($2.48), with a volume of 40,786 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 355 ($4.77) target price on shares of Focusrite in a research report on Thursday, March 20th.

Focusrite Trading Up 1.4%

The company has a quick ratio of 0.77, a current ratio of 1.57 and a debt-to-equity ratio of 36.98. The firm’s 50-day moving average price is GBX 160.14 and its 200 day moving average price is GBX 192.23. The company has a market capitalization of £108.04 million, a P/E ratio of 9.21, a P/E/G ratio of 2.95 and a beta of 1.04.

Focusrite (LON:TUNE) last posted its earnings results on Tuesday, April 29th. The company reported GBX 6.70 ($0.09) EPS for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. As a group, equities research analysts predict that Focusrite plc will post 17.2473868 earnings per share for the current year.

Focusrite Company Profile

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.