Frontier Developments (LON:FDEV) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Frontier Developments plc (LON:FDEV) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 252.84 ($3.28) and traded as low as GBX 229 ($2.97). Frontier Developments shares last traded at GBX 235 ($3.05), with a volume of 46,326 shares.

Wall Street Analyst Weigh In

FDEV has been the topic of several research reports. Shore Capital restated a “buy” rating on shares of Frontier Developments in a research note on Wednesday, September 11th. Berenberg Bank restated a “buy” rating and set a GBX 330 ($4.28) price objective on shares of Frontier Developments in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 300 ($3.90) target price on shares of Frontier Developments in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 250 ($3.25).

Frontier Developments Price Performance

The stock has a market cap of £94.16 million, a price-to-earnings ratio of -425.89, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. 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 company’s 50-day moving average is GBX 245.43 and its 200-day moving average is GBX 252.61.

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.