Focusrite (LON:TUNE) Stock Crosses Above 50-Day Moving Average – What’s Next?

Shares of Focusrite plc (LON:TUNE) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 154.33 ($2.05) and traded as high as GBX 160 ($2.12). Focusrite shares last traded at GBX 150 ($1.99), with a volume of 348,664 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 355 ($4.71) target price on shares of Focusrite in a report on Thursday, March 20th.

Focusrite Stock Performance

The company has a market capitalization of £84.80 million, a PE ratio of 7.23, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The business’s fifty day moving average is GBX 154.33 and its two-hundred day moving average is GBX 204.53. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 36.98.

Focusrite (LON:TUNE) last announced its quarterly earnings data 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%. Equities research analysts predict that Focusrite plc will post 17.2473868 earnings per share for the current year.

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.