Focusrite (LON:TUNE) Hits New 1-Year Low – Here’s What Happened

Shares of Focusrite plc (LON:TUNE) reached a new 52-week low on Tuesday . The company traded as low as GBX 220 ($2.85) and last traded at GBX 221.90 ($2.88), with a volume of 72302 shares changing hands. The stock had previously closed at GBX 220 ($2.85).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 410 ($5.32) target price on shares of Focusrite in a report on Friday, August 30th.

Focusrite Stock Down 0.5 %

The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77. The stock has a fifty day moving average price of GBX 273.64 and a two-hundred day moving average price of GBX 339.11. The company has a market cap of £139.91 million, a P/E ratio of 1,194.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

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.