Focusrite (LON:TUNE) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Focusrite plc (LON:TUNE)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 204.57 and traded as high as GBX 224. Focusrite shares last traded at GBX 220.21, with a volume of 49,785 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 355.

Focusrite Trading Up 0.1%

The stock has a market cap of £129.10 million, a price-to-earnings ratio of 64.77, a PEG ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 36.98, a quick ratio of 0.77 and a current ratio of 1.57. The business has a fifty day simple moving average of GBX 204.57 and a 200 day simple moving average of GBX 178.90.

Focusrite (LON:TUNE) last released its earnings results on Tuesday, November 4th. The company reported GBX 17 earnings per share for the quarter. Focusrite had a return on equity of 10.09% and a net margin of 6.99%. As a group, equities analysts anticipate that Focusrite plc will post 17.2473868 EPS for the current year.

Focusrite Company Profile

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound.

We are a rapidly growing group of innovative, market-leading brands, operating across two divisions.

Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.