Focusrite (LON:TUNE) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Focusrite plc (LON:TUNE) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 295.07 ($3.83) and traded as low as GBX 237.26 ($3.08). Focusrite shares last traded at GBX 242.50 ($3.15), with a volume of 92,974 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 410 ($5.32) price target on shares of Focusrite in a research report on Friday, August 30th.

Focusrite Price Performance

The stock’s 50-day moving average is GBX 295.07 and its 200 day moving average is GBX 344.69. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77. The company has a market cap of £142.55 million, a PE ratio of 1,212.50, a PEG ratio of 2.95 and a beta of 1.04.

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.