Frontier Developments (LON:FDEV) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Frontier Developments plc (LON:FDEV)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 433.78 and traded as high as GBX 441.50. Frontier Developments shares last traded at GBX 430.93, with a volume of 320,223 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FDEV. Berenberg Bank reaffirmed a “buy” rating and set a GBX 600 target price on shares of Frontier Developments in a report on Wednesday, June 10th. Shore Capital Group reaffirmed a “buy” rating and set a GBX 650 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Stock Performance

The company has a debt-to-equity ratio of 19.71, a current ratio of 2.83 and a quick ratio of 2.61. The firm has a market capitalization of £149.03 million, a price-to-earnings ratio of 8.61, a PEG ratio of 2.11 and a beta of 0.03. The firm’s fifty day moving average is GBX 433.98 and its 200 day moving average is GBX 406.45.

Insider Activity

In related news, insider Alex Bevis sold 5,084 shares of Frontier Developments stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total transaction of £20,539.36. Corporate insiders own 38.10% of the company’s stock.

About Frontier Developments

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.