Focusrite (LON:TUNE) Shares Cross Above 50-Day Moving Average – Here’s Why

Focusrite plc (LON:TUNE) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 235.25 and traded as high as GBX 245. Focusrite shares last traded at GBX 235.05, with a volume of 63,200 shares traded.

Analysts Set New Price Targets

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

Focusrite Stock Down 3.3%

The company has a market cap of £133.41 million, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The stock has a 50-day simple moving average of GBX 235.25 and a 200-day simple moving average of GBX 205.68. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 36.98.

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.