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

Shares of Focusrite plc (LON:TUNE) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 235.25 and traded as high as GBX 245. Focusrite shares last traded at GBX 235.05, with a volume of 63,200 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 355 target price on shares of Focusrite in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 355.

Focusrite Stock Down 3.3%

The firm has a market cap of £133.41 million, a P/E ratio of 25.53, a PEG ratio of 2.95 and a beta of 1.04. The firm’s 50-day moving average price is GBX 235.25 and its 200 day moving average price is GBX 205.68. 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.