Focusrite plc (LON:TUNE – Get Free Report) shares fell 8.7% during trading on Thursday . The company traded as low as GBX 210 and last traded at GBX 210. Approximately 302,436 shares traded hands during trading, an increase of 88% from the average daily volume of 160,756 shares. The stock had previously closed at GBX 230.
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank restated a “buy” rating and issued a GBX 355 price objective on shares of Focusrite in a research note on Thursday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Focusrite presently has an average rating of “Buy” and an average price target of GBX 355.
Focusrite Stock Down 8.7%
Focusrite (LON:TUNE – Get Free Report) last posted its quarterly earnings results on Monday, June 29th. The company reported GBX 15.04 EPS for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. As a group, research analysts expect that Focusrite plc will post 17.2473868 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Ian Barkshire acquired 87,280 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of GBX 200 per share, with a total value of £174,560. Company insiders own 34.66% of the company’s stock.
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.
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