Focusrite (LON:TUNE) Stock Price Passes Above 50-Day Moving Average of $381.10

Focusrite plc (LON:TUNE) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 381.10 ($4.82) and traded as high as GBX 393.60 ($4.98). Focusrite shares last traded at GBX 387.50 ($4.90), with a volume of 58,129 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 410 ($5.19) target price on shares of Focusrite in a research note on Wednesday, May 1st.

Focusrite Trading Up 1.3 %

The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62. The company has a market cap of £229.97 million, a price-to-earnings ratio of 1,937.50, a P/E/G ratio of 2.95 and a beta of 1.05. The business has a fifty day simple moving average of GBX 381.10 and a 200 day simple moving average of GBX 424.60.

Focusrite Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 9th were issued a dividend of GBX 2.10 ($0.03) per share. This represents a yield of 0.57%. The ex-dividend date was Thursday, May 9th. Focusrite’s dividend payout ratio is currently 3,500.00%.

Focusrite Company Profile

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.