Focusrite (LON:TUNE) Shares Pass Below 200-Day Moving Average of $360.47

Focusrite plc (LON:TUNE)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 360.47 ($4.76) and traded as low as GBX 285 ($3.76). Focusrite shares last traded at GBX 285.63 ($3.77), with a volume of 29,726 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 410 ($5.42) price objective on shares of Focusrite in a research report on Friday, August 30th.

Focusrite Trading Down 2.2 %

The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 30.62. The company has a market cap of £164.73 million, a price-to-earnings ratio of 1,405.75, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The firm has a 50-day moving average price of GBX 345.10 and a 200 day moving average price of GBX 359.43.

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.