Focusrite (LON:TUNE) Shares Down 8.7% – Should You Sell?

Shares of Focusrite plc (LON:TUNEGet Free Report) dropped 8.7% during trading on Thursday . The company traded as low as GBX 210 and last traded at GBX 210. Approximately 302,436 shares were traded during trading, an increase of 88% from the average daily volume of 160,756 shares. The stock had previously closed at GBX 230.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and set a GBX 355 price objective on shares of Focusrite in a report on Thursday. One analyst has rated the stock with a Buy rating, According to MarketBeat, Focusrite currently has a consensus rating of “Buy” and a consensus target price of GBX 355.

View Our Latest Report on Focusrite

Focusrite Price Performance

The company has a current ratio of 3.53, a quick ratio of 0.77 and a debt-to-equity ratio of 26.31. The business has a 50-day moving average of GBX 193.76 and a 200 day moving average of GBX 208.90. The firm has a market capitalization of £121.95 million, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08.

Focusrite (LON:TUNEGet Free Report) last posted its quarterly earnings data on Monday, June 29th. The company reported GBX 15.04 earnings per share (EPS) for the quarter. Focusrite had a negative net margin of 2.52% and a negative return on equity of 3.62%. As a group, research analysts anticipate that Focusrite plc will post 17.2473868 EPS for the current fiscal year.

Insider Buying and Selling at Focusrite

In other news, insider Ian Barkshire purchased 87,280 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of GBX 200 per share, for a total transaction of £174,560. 34.66% of the stock is owned by insiders.

Focusrite Company Profile

(Get Free Report)

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.

Further Reading

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