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

Focusrite plc (LON:TUNE) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 221.70 and traded as low as GBX 218.15. Focusrite shares last traded at GBX 219, with a volume of 124,451 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 355 price objective on shares of Focusrite in a research note on Thursday, September 17th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Focusrite currently has a consensus rating of “Buy” and an average target price of GBX 355.

Focusrite Stock Up 4.1%

The company has a debt-to-equity ratio of 26.31, a quick ratio of 0.77 and a current ratio of 3.53. The company has a market capitalization of £133.98 million, a price-to-earnings ratio of 25.33, a P/E/G ratio of 2.95 and a beta of 1.12. The stock’s fifty day simple moving average is GBX 244.68 and its two-hundred day simple moving average is GBX 221.70.

Focusrite (LON:TUNE) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported GBX 13.20 earnings per share for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. The company had revenue of GBX 9,034 million during the quarter. On average, sell-side analysts anticipate that Focusrite plc will post 17.25 EPS 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.