Focusrite (LON:TUNE) Trading Down 7.3% – Here’s Why

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

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 355 price target on shares of Focusrite in a report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Focusrite presently has an average rating of “Buy” and an average target price of GBX 355.

Get Our Latest Stock Analysis on Focusrite

Focusrite Trading Down 7.3%

The company has a market cap of £145.73 million, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The company’s 50 day simple moving average is GBX 255.34 and its two-hundred day simple moving average is GBX 215.05. The company has a debt-to-equity ratio of 26.31, a current ratio of 3.53 and a quick ratio of 0.77.

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

Insider Transactions at Focusrite

In related news, insider Ian Barkshire bought 87,280 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average cost of GBX 200 per share, with a total value 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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