Frontier Developments (LON:FDEV) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Frontier Developments plc (LON:FDEV) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 254 ($3.29) and traded as low as GBX 251.50 ($3.26). Frontier Developments shares last traded at GBX 265 ($3.44), with a volume of 170,621 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Berenberg Bank restated a “buy” rating and issued a GBX 330 ($4.28) price target on shares of Frontier Developments in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 300 ($3.89) price target on shares of Frontier Developments in a report on Thursday, September 12th. Finally, Shore Capital restated a “buy” rating on shares of Frontier Developments in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 250 ($3.24).

Frontier Developments Stock Up 1.9 %

The firm has a fifty day moving average price of GBX 241.97 and a 200-day moving average price of GBX 254.11. The company has a quick ratio of 2.61, a current ratio of 2.93 and a debt-to-equity ratio of 27.70. The firm has a market cap of £106.60 million, a price-to-earnings ratio of -482.14, a PEG ratio of 2.11 and a beta of 0.03.

About Frontier Developments

Frontier Developments plc develops and publishes video games for interactive entertainment sector. The company develops games using its cross-platform technology, Cobra. It also publishes games developed by selected partner studios under its Frontier Foundry games label. The company was incorporated in 1994 and is headquartered in Cambridge, the United Kingdom.