Focusrite (LON:TUNE) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Focusrite plc (LON:TUNE) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 210.19 and traded as low as GBX 210. Focusrite shares last traded at GBX 214.80, with a volume of 9,757 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 target price on shares of Focusrite in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 355.

Focusrite Price Performance

The company has a market cap of £124.85 million, a P/E ratio of 23.89, a PEG ratio of 2.95 and a beta of 1.04. 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 has a fifty day moving average price of GBX 210.19 and a 200 day moving average price of GBX 186.49.

Focusrite (LON:TUNE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported GBX 17 earnings per share (EPS) for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. Equities research analysts forecast that Focusrite plc will post 17.2473868 earnings per share for the current year.

About Focusrite

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.