Focusrite (LON:TUNE) Stock Crosses Below 50-Day Moving Average - Here's Why

Shares of Focusrite plc (LON:TUNE - Get Free Report) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 165.38 ($2.23) and traded as low as GBX 162.10 ($2.19). Focusrite shares last traded at GBX 170 ($2.29), with a volume of 41,662 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 355 ($4.79) target price on shares of Focusrite in a report on Thursday, March 20th.

Focusrite Stock Down 0.6%

The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 36.98. The stock's 50-day simple moving average is GBX 168.04 and its 200-day simple moving average is GBX 179.98. The firm has a market capitalization of £98.70 million, a P/E ratio of 8.42, a P/E/G ratio of 2.95 and a beta of 1.04.

Focusrite (LON:TUNE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported GBX 6.70 ($0.09) earnings per share (EPS) for the quarter. Focusrite had a net margin of 6.99% and a return on equity of 10.09%. As a group, research analysts predict 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.