Bytes Technology Group plc (LON:BYIT - Get Free Report)'s stock price fell 28.2% during mid-day trading on Wednesday . The stock traded as low as GBX 362.80 ($4.95) and last traded at GBX 364.95 ($4.98). 43,414,953 shares changed hands during trading, an increase of 3,081% from the average session volume of 1,364,662 shares. The stock had previously closed at GBX 508.50 ($6.94).
Wall Street Analyst Weigh In
Several research firms have weighed in on BYIT. Berenberg Bank boosted their target price on shares of Bytes Technology Group from GBX 640 ($8.74) to GBX 660 ($9.01) and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Shore Capital downgraded shares of Bytes Technology Group to a "hold" rating in a research note on Wednesday.
Check Out Our Latest Analysis on BYIT
Bytes Technology Group Stock Performance
The firm's 50 day moving average is GBX 516.09 and its 200-day moving average is GBX 471.44. The stock has a market capitalization of £826.85 million, a price-to-earnings ratio of 15.88, a PEG 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.
Bytes Technology Group (LON:BYIT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) earnings per share for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. Analysts forecast 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 related news, insider Andrew Holden sold 50,664 shares of Bytes Technology Group stock in a transaction dated Friday, June 20th. The stock was sold at an average price of GBX 512 ($6.99), for a total value of £259,399.68 ($354,225.97). Also, insider Sam Mudd sold 65,264 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of GBX 500 ($6.83), for a total value of £326,320 ($445,609.72). Over the last ninety days, insiders have sold 136,476 shares of company stock worth $68,845,968. Insiders own 9.51% of the company's stock.
About Bytes Technology Group
(
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.
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