Focusrite (LON:TUNE) Stock Passes Below 200-Day Moving Average of $437.52

Focusrite plc (LON:TUNEGet Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 437.52 ($5.61) and traded as low as GBX 380 ($4.87). Focusrite shares last traded at GBX 380 ($4.87), with a volume of 31,364 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 410 ($5.25) price objective on shares of Focusrite in a report on Wednesday, May 1st.

Read Our Latest Report on Focusrite

Focusrite Stock Up 1.8 %

The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62. The company’s fifty day simple moving average is GBX 357.02 and its 200 day simple moving average is GBX 437.52. The firm has a market capitalization of £226.74 million, a PE ratio of 1,900.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

Focusrite Cuts Dividend

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

Insider Buying and Selling at Focusrite

In other Focusrite news, insider Sally McKone bought 6,900 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of GBX 292 ($3.74) per share, with a total value of £20,148 ($25,814.22). 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 bought at an average price of GBX 295 ($3.78) per share, with a total value of £9,988.70 ($12,797.82). Also, insider Sally McKone purchased 6,900 shares of Focusrite stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average cost of GBX 292 ($3.74) per share, with a total value of £20,148 ($25,814.22). 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.

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