Focusrite (LON:TUNE) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Focusrite plc shares have fallen below their 200-day moving average of GBX 163.56, trading as low as GBX 156 during recent sessions.
• The company's current market capitalization stands at £91.51 million, with a notably high price-to-earnings ratio of 4,591.18.
• Focusrite operates in the music and audio products industry, focusing on both hardware and software solutions for audio professionals and amateur musicians.

Focusrite plc (LON:TUNE - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 163.56 ($2.23) and traded as low as GBX 156 ($2.13). Focusrite shares last traded at GBX 156.10 ($2.13), with a volume of 27,232 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 355 target price on shares of Focusrite in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Focusrite currently has an average rating of "Buy" and an average target price of GBX 355.

Focusrite Price Performance

The stock has a fifty day moving average of GBX 162.62 and a two-hundred day moving average of GBX 162.85. 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 cap of £111.39 million, a price-to-earnings ratio of 5,588.24, a PEG ratio of 2.95 and a beta of 1.04.

Focusrite Company Profile

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.