Focusrite plc (LON:TUNE – Get 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%
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 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
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.
See Also
- Five stocks we like better than Focusrite
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
Receive News & Ratings for Focusrite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Focusrite and related companies with MarketBeat.com's FREE daily email newsletter.
