Focusrite (LON:TUNE) Reaches New 12-Month Low – Here’s Why

Focusrite plc (LON:TUNE) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 245 ($3.21) and last traded at GBX 250 ($3.27), with a volume of 188362 shares traded. The stock had previously closed at GBX 248 ($3.25).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 410 ($5.37) price target on shares of Focusrite in a research report on Friday, August 30th.

Focusrite Price Performance

The company has a market capitalization of £146.48 million, a P/E ratio of 1,240.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company’s 50-day moving average price is GBX 317.66 and its two-hundred day moving average price is GBX 349.80. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77.

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.