Frontier Developments (LON:FDEV) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Frontier Developments plc (LON:FDEV) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 412.81 and traded as low as GBX 409.50. Frontier Developments shares last traded at GBX 444.50, with a volume of 50,230 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FDEV. Berenberg Bank reiterated a “buy” rating and issued a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Shore Capital Group restated a “buy” rating and set a GBX 650 target price on shares of Frontier Developments in a research report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Stock Performance

The company’s fifty day simple moving average is GBX 400.35 and its 200 day simple moving average is GBX 412.81. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 19.71. The stock has a market capitalization of £154.39 million, a P/E ratio of 8.93, a P/E/G ratio of 2.11 and a beta of 0.03.

Insiders Place Their Bets

In other Frontier Developments news, insider Alex Bevis sold 5,084 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total value of £20,539.36. Also, insider David John Braben sold 93,070 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of GBX 378, for a total value of £351,804.60. Insiders sold 219,654 shares of company stock worth $83,175,896 in the last quarter. 37.96% of the stock is currently owned by company insiders.

About Frontier Developments

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.