Frontier Developments (LON:FDEV) Stock Price Up 9.2% – Here’s What Happened

Frontier Developments plc (LON:FDEV) shot up 9.2% during trading on Thursday . The company traded as high as GBX 454 and last traded at GBX 446. Approximately 424,826 shares traded hands during mid-day trading, an increase of 158% from the average session volume of 164,971 shares. The stock had previously closed at GBX 408.50.

Wall Street Analysts Forecast Growth

FDEV has been the subject of a number of research reports. Berenberg Bank reissued a “buy” rating and issued a GBX 600 price target on shares of Frontier Developments in a research report on Wednesday, June 10th. Shore Capital Group reaffirmed a “buy” rating and set a GBX 650 price objective on shares of Frontier Developments in a report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 618.75.

Frontier Developments Trading Up 2.4%

The business’s 50-day moving average price is GBX 430.04 and its 200-day moving average price is GBX 401.99. The firm has a market capitalization of £158.58 million, a PE ratio of 9.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The company has a debt-to-equity ratio of 19.71, a current ratio of 2.83 and a quick ratio of 2.61.

Insider Transactions at Frontier Developments

In other Frontier Developments news, insider Alex Bevis sold 5,084 shares of Frontier Developments stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of GBX 404, for a total value of £20,539.36. Insiders own 38.10% of the company’s stock.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.