Focusrite (LON:TUNE) Stock Price Down 7.3% – Here’s What Happened

Shares of Focusrite plc (LON:TUNEGet Free Report) traded down 7.3% on Wednesday . The stock traded as low as GBX 245 and last traded at GBX 248. Approximately 161,260 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 176,889 shares. The stock had previously closed at GBX 267.50.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 355.

Get Our Latest Analysis on TUNE

Focusrite Stock Performance

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 stock has a market cap of £145.73 million, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The firm’s 50 day moving average is GBX 255.34 and its 200 day moving average is GBX 215.05.

Focusrite (LON:TUNEGet Free Report) last announced its earnings results on Monday, June 29th. The company reported GBX 15.04 earnings per share for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. Analysts anticipate that Focusrite plc will post 17.2473868 EPS for the current year.

Insider Buying and Selling at Focusrite

In other Focusrite news, insider Ian Barkshire acquired 87,280 shares of the stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of GBX 200 per share, with a total value of £174,560. 34.45% of the stock is owned by insiders.

About Focusrite

(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.

Recommended Stories

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.