Focusrite (LON:TUNE) Stock Passes Below Two Hundred Day Moving Average of $354.51

Focusrite plc (LON:TUNE) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 354.51 ($4.75) and traded as low as GBX 276 ($3.70). Focusrite shares last traded at GBX 280 ($3.75), with a volume of 72,069 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 410 ($5.49) price target on shares of Focusrite in a research report on Friday, August 30th.

Focusrite Stock Performance

The stock’s 50 day moving average price is GBX 334.56 and its 200 day moving average price is GBX 354.51. The company has a debt-to-equity ratio of 30.62, a quick ratio of 0.77 and a current ratio of 1.53. The company has a market capitalization of £166.98 million, a P/E ratio of 1,400.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

About Focusrite

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.