Frontier Developments (LON:FDEV) Stock Price Up 9.2% – Here’s Why

Frontier Developments plc (LON:FDEV) traded up 9.2% during trading on Thursday . The stock traded as high as GBX 454 and last traded at GBX 446. Approximately 424,826 shares changed hands during mid-day trading, an increase of 158% from the average session volume of 164,971 shares. The stock had previously closed at GBX 408.50.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FDEV. Shore Capital Group reiterated a “buy” rating and set a GBX 650 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Berenberg Bank reissued a “buy” rating and issued a GBX 600 target price on shares of Frontier Developments in a research note on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Frontier Developments presently has a consensus rating of “Buy” and an average price target of GBX 618.75.

Frontier Developments Stock Performance

The firm has a market capitalization of £154.94 million, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The company has a debt-to-equity ratio of 19.71, a quick ratio of 2.61 and a current ratio of 2.83. The stock’s fifty day moving average is GBX 428.24 and its two-hundred day moving average is GBX 401.47.

Insider Buying and Selling at Frontier Developments

In other news, insider Alex Bevis sold 5,084 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total transaction of £20,539.36. 38.10% of the stock is owned by corporate insiders.

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.