Focusrite (LON:TUNE) Sets New 1-Year Low – Here’s Why

Focusrite plc (LON:TUNE)’s share price reached a new 52-week low on Monday . The stock traded as low as GBX 153 ($1.98) and last traded at GBX 154.50 ($2.00), with a volume of 119732 shares changing hands. The stock had previously closed at GBX 162.50 ($2.10).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 355 ($4.58) price objective on shares of Focusrite in a report on Thursday.

Focusrite Stock Performance

The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77. The stock’s 50-day moving average price is GBX 193.25 and its 200-day moving average price is GBX 236.70. The company has a market cap of £90.23 million, a P/E ratio of 7.69, a PEG ratio of 2.95 and a beta of 1.04.

About Focusrite

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.