Focusrite (LON:TUNE) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Focusrite plc (LON:TUNE)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 252.67 ($3.17) and traded as high as GBX 260 ($3.26). Focusrite shares last traded at GBX 255 ($3.20), with a volume of 46,696 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 410 ($5.14) target price on shares of Focusrite in a research note on Friday, August 30th.

Focusrite Stock Performance

The firm’s fifty day moving average price is GBX 253.20 and its 200-day moving average price is GBX 311.06. The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 30.62. The firm has a market cap of £154.68 million, a price-to-earnings ratio of 1,320.00, a PEG ratio of 2.95 and a beta of 1.04.

Focusrite Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 7th. Stockholders of record on Tuesday, December 24th will be given a GBX 4.50 ($0.06) dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This is a positive change from Focusrite’s previous dividend of $2.10. This represents a dividend yield of 1.74%. Focusrite’s dividend payout ratio is currently 3,500.00%.

About Focusrite

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.