Focusrite (LON:TUNE) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Focusrite plc (LON:TUNE - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 162.77 ($2.23) and traded as high as GBX 170 ($2.33). Focusrite shares last traded at GBX 165 ($2.26), with a volume of 234,745 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 355 ($4.87) price objective on shares of Focusrite in a research report on Thursday, March 20th.

Focusrite Price Performance

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 business's 50 day simple moving average is GBX 163.22 and its two-hundred day simple moving average is GBX 185.42. The stock has a market capitalization of £99.28 million, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

Focusrite (LON:TUNE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported GBX 6.70 ($0.09) earnings per share for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. As a group, sell-side analysts forecast that Focusrite plc will post 17.2473868 earnings per share for the current fiscal year.

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.