Focusrite (LON:TUNE) Shares Up 13.2% – Here’s Why

Focusrite plc (LON:TUNE)’s stock price shot up 13.2% during trading on Tuesday . The stock traded as high as GBX 215 and last traded at GBX 215. 193,927 shares changed hands during trading, an increase of 40% from the average session volume of 138,887 shares. The stock had previously closed at GBX 190.

Wall Street Analyst Weigh In

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

Focusrite Trading Up 13.2%

The stock has a market cap of £124.85 million, a PE ratio of 23.89, a PEG ratio of 2.95 and a beta of 0.79. The company has a current ratio of 3.11, a quick ratio of 0.77 and a debt-to-equity ratio of 25.72. The firm has a fifty day simple moving average of GBX 236.47 and a two-hundred day simple moving average of GBX 213.99.

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.