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Bytes Technology Group (LON:BYIT) Sets New 12-Month Low - Here's What Happened

Bytes Technology Group logo with Computer and Technology background

Bytes Technology Group plc (LON:BYIT - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as GBX 337 ($4.58) and last traded at GBX 337.54 ($4.59), with a volume of 784856 shares trading hands. The stock had previously closed at GBX 355.40 ($4.83).

Analyst Ratings Changes

BYIT has been the subject of a number of research analyst reports. Shore Capital cut Bytes Technology Group to a "hold" rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bytes Technology Group from GBX 575 ($7.81) to GBX 470 ($6.39) and set a "hold" rating on the stock in a report on Wednesday, July 2nd. Finally, Berenberg Bank cut shares of Bytes Technology Group to a "hold" rating and reduced their price objective for the stock from GBX 660 ($8.97) to GBX 390 ($5.30) in a research note on Wednesday, July 2nd.

Get Our Latest Stock Report on BYIT

Bytes Technology Group Trading Down 5.9%

The stock has a market cap of £809.90 million, a P/E ratio of 15.55, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The stock's fifty day moving average is GBX 498.93 and its 200 day moving average is GBX 467.86.

Bytes Technology Group (LON:BYIT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) earnings per share (EPS) for the quarter. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%. As a group, equities research analysts predict that Bytes Technology Group plc will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling at Bytes Technology Group

In other news, insider Andrew Holden sold 50,664 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.96), for a total value of £259,399.68 ($352,397.34). Also, insider Sam Mudd sold 65,264 shares of Bytes Technology Group stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.79), for a total transaction of £326,320 ($443,309.33). Insiders have sold 136,476 shares of company stock valued at $68,845,968 over the last ninety days. 9.51% of the stock is owned by insiders.

Bytes Technology Group Company Profile

(Get Free Report)

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland's leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services. Our strong relationships with many of the world's largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base.

Further Reading

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