Frontier Developments (LON:FDEV) Shares Up 22.1% – Here’s What Happened

Frontier Developments plc (LON:FDEV)’s share price rose 22.1% during trading on Tuesday . The company traded as high as GBX 415 and last traded at GBX 402.42. Approximately 1,645,998 shares changed hands during mid-day trading, an increase of 917% from the average daily volume of 161,793 shares. The stock had previously closed at GBX 329.50.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised Frontier Developments to a “buy” rating and boosted their price objective for the stock from GBX 580 to GBX 605 in a research report on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 608.33.

Frontier Developments Price Performance

The stock’s 50-day moving average is GBX 356.76 and its 200-day moving average is GBX 437.51. The firm has a market cap of £124.69 million, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 19.71.

Insider Activity

In other news, insider David John Braben sold 93,070 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of GBX 378, for a total transaction of £351,804.60. In the last quarter, insiders have sold 369,070 shares of company stock worth $735,396,960. Insiders own 37.78% of the company’s stock.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.