Focusrite (LON:TUNE) Stock Passes Below 200-Day Moving Average of $437.52

Focusrite plc (LON:TUNEGet Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 437.52 ($5.61) and traded as low as GBX 380 ($4.87). Focusrite shares last traded at GBX 380 ($4.87), with a volume of 31,364 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 410 ($5.25) price target on shares of Focusrite in a research report on Wednesday, May 1st.

View Our Latest Stock Analysis on TUNE

Focusrite Price Performance

The firm’s 50-day moving average price is GBX 357.02 and its two-hundred day moving average price is GBX 437.52. The stock has a market cap of £226.74 million, a PE ratio of 1,900.00, a PEG ratio of 2.95 and a beta of 1.05. The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 30.62.

Focusrite Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 9th will be given a dividend of GBX 2.10 ($0.03) per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a yield of 0.57%. Focusrite’s payout ratio is 3,500.00%.

Insider Buying and Selling at Focusrite

In other news, insider Sally McKone bought 6,900 shares of the stock in a transaction on Tuesday, March 19th. The stock was bought at an average cost of GBX 292 ($3.74) per share, for a total transaction of £20,148 ($25,814.22). In other news, insider Timothy Paul Carrol bought 3,386 shares of the stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of GBX 295 ($3.78) per share, for a total transaction of £9,988.70 ($12,797.82). Also, insider Sally McKone bought 6,900 shares of the stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of GBX 292 ($3.74) per share, with a total value of £20,148 ($25,814.22). 37.01% of the stock is owned by insiders.

Focusrite Company Profile

(Get Free Report)

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.

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