Focusrite (LON:TUNE) Share Price Passes Below 50-Day Moving Average of $377.48

Focusrite plc (LON:TUNE)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 377.48 ($4.98) and traded as low as GBX 343.50 ($4.53). Focusrite shares last traded at GBX 348 ($4.59), with a volume of 51,440 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 410 ($5.41) price target on shares of Focusrite in a report on Wednesday, May 1st.

Focusrite Price Performance

The company has a market capitalization of £167.74 million, a PE ratio of 1,740.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.12. 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 firm’s 50-day moving average is GBX 377.48 and its 200-day moving average is GBX 377.46.

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.