Focusrite (LON:TUNE) Stock Price Passes Below 200 Day Moving Average of $440.38

Focusrite plc (LON:TUNEGet Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 440.38 ($5.62) and traded as low as GBX 372 ($4.75). Focusrite shares last traded at GBX 387.50 ($4.95), with a volume of 14,234 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 410 ($5.24) target price on shares of Focusrite in a research report on Wednesday, May 1st.

Read Our Latest Report on Focusrite

Focusrite Trading Up 2.0 %

The firm has a market capitalization of £227.04 million, a price-to-earnings ratio of 1,937.50, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. The firm’s 50 day moving average is GBX 350.27 and its 200 day moving average is GBX 440.38. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62.

Focusrite Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 9th will be paid a dividend of GBX 2.10 ($0.03) per share. This represents a yield of 0.57%. The ex-dividend date is Thursday, May 9th. Focusrite’s dividend payout ratio is presently 3,500.00%.

Insider Activity at Focusrite

In other news, insider Timothy Paul Carrol purchased 3,386 shares of Focusrite stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average price of GBX 295 ($3.77) per share, for a total transaction of £9,988.70 ($12,756.96). In other news, insider Sally McKone purchased 6,900 shares of Focusrite stock in a transaction that occurred on Tuesday, March 19th. The stock was acquired at an average price of GBX 292 ($3.73) per share, for a total transaction of £20,148 ($25,731.80). Also, insider Timothy Paul Carrol purchased 3,386 shares of Focusrite stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of GBX 295 ($3.77) per share, with a total value of £9,988.70 ($12,756.96). Company insiders own 37.01% of the company’s stock.

Focusrite Company Profile

(Get Free Report)

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.

Further Reading

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.