Focusrite (LON:TUNE) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Shares of Focusrite plc (LON:TUNE) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 317.65 ($4.01) and traded as low as GBX 271 ($3.42). Focusrite shares last traded at GBX 272.50 ($3.44), with a volume of 39,603 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 410 ($5.17) target price on shares of Focusrite in a report on Friday, August 30th.

Focusrite Stock Performance

The firm’s 50 day moving average is GBX 251.56 and its 200-day moving average is GBX 317.65. The stock has a market capitalization of £159.66 million, a price-to-earnings ratio of 1,362.50, a PEG ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 30.62, a quick ratio of 0.77 and a current ratio of 1.53.

Focusrite Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 7th. Shareholders of record on Tuesday, December 24th will be given a GBX 4.50 ($0.06) dividend. The ex-dividend date is Tuesday, December 24th. This represents a dividend yield of 1.74%. This is an increase from Focusrite’s previous dividend of $2.10. Focusrite’s dividend payout ratio is 3,500.00%.

About Focusrite

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.