Focusrite (LON:TUNE) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Focusrite plc (LON:TUNEGet Free Report)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 244.07 and traded as high as GBX 280. Focusrite shares last traded at GBX 270, with a volume of 101,812 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 research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Focusrite currently has a consensus rating of “Buy” and a consensus price target of GBX 355.

Get Our Latest Analysis on Focusrite

Focusrite Trading Up 1.9%

The company has a debt-to-equity ratio of 26.31, a quick ratio of 0.77 and a current ratio of 3.53. The firm has a market cap of £158.66 million, a P/E ratio of 30.00, a P/E/G ratio of 2.95 and a beta of 1.08. The firm has a 50 day simple moving average of GBX 245.65 and a 200 day simple moving average of GBX 212.86.

Focusrite (LON:TUNEGet 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 research analysts predict that Focusrite plc will post 17.2473868 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ian Barkshire bought 87,280 shares of the stock in a transaction on Monday, June 29th. The shares were acquired 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.

Focusrite Company Profile

(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.

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