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

Focusrite plc (LON:TUNE)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 238.50 and traded as high as GBX 240. Focusrite shares last traded at GBX 237, with a volume of 64,569 shares changing hands.

Wall Street Analyst Weigh In

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

Focusrite Trading Up 1.3%

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 capitalization of £139.37 million, a P/E ratio of 26.67, a PEG ratio of 2.95 and a beta of 1.04. The firm’s 50-day simple moving average is GBX 238.50 and its 200 day simple moving average is GBX 210.31.

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.