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

Focusrite plc (LON:TUNE) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 179.23 ($2.39) and traded as high as GBX 190 ($2.54). Focusrite shares last traded at GBX 187 ($2.50), with a volume of 64,473 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 355 price target on shares of Focusrite in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 355.

Focusrite Stock Up 1.6%

The company has a market capitalization of £111.39 million, a price-to-earnings ratio of 55.88, a PEG ratio of 2.95 and a beta of 1.04. The stock’s fifty day simple moving average is GBX 179.23 and its two-hundred day simple moving average is GBX 168.20. The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77.

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.