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

Focusrite plc (LON:TUNE) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 208.85 and traded as high as GBX 229.50. Focusrite shares last traded at GBX 221.50, with a volume of 129,793 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 355 target price on shares of Focusrite in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 355.

Focusrite Stock Down 1.6%

The stock has a fifty day moving average of GBX 208.85 and a two-hundred day moving average of GBX 184.03. 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 stock has a market cap of £128.63 million, a price-to-earnings ratio of 24.61, a PEG ratio of 2.95 and a beta of 1.04.

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

Focusrite Company Profile

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.