Bytes Technology Group plc (LON:BYIT - Get Free Report)'s stock price dropped 32.8% during trading on Wednesday . The stock traded as low as GBX 341.60 ($4.66) and last traded at GBX 341.60 ($4.66). Approximately 10,191,200 shares were traded during trading, an increase of 826% from the average daily volume of 1,100,981 shares. The stock had previously closed at GBX 508.50 ($6.94).
Wall Street Analyst Weigh In
BYIT has been the topic of several research analyst reports. Shore Capital lowered Bytes Technology Group to a "hold" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on Bytes Technology Group from GBX 575 ($7.85) to GBX 470 ($6.42) and set a "hold" rating on the stock in a research note on Wednesday. Finally, Berenberg Bank lowered Bytes Technology Group to a "hold" rating and decreased their price target for the stock from GBX 660 ($9.01) to GBX 390 ($5.33) in a research note on Wednesday.
Get Our Latest Stock Report on Bytes Technology Group
Bytes Technology Group Price Performance
The company has a fifty day simple moving average of GBX 507.53 and a two-hundred day simple moving average of GBX 469.86. 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 company has a market capitalization of £859.76 million, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.27 and a beta of 0.65.
Bytes Technology Group (LON:BYIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) earnings per share for the quarter. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%. As a group, research analysts anticipate that Bytes Technology Group plc will post 11.3463262 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Sam Mudd sold 65,264 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.83), for a total transaction of £326,320 ($445,609.72). Also, insider Andrew Holden sold 50,664 shares of the company's stock in a transaction on 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). Over the last 90 days, insiders have sold 136,476 shares of company stock valued at $68,845,968. Insiders own 9.51% of the company's stock.
About Bytes Technology Group
(
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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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