Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) were down 32.8% during trading on Wednesday . The company traded as low as GBX 341.60 ($4.66) and last traded at GBX 341.60 ($4.66). Approximately 10,191,200 shares changed hands 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).
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday. Finally, Berenberg Bank downgraded shares of Bytes Technology Group to a "hold" rating and dropped their target price for the stock from GBX 660 ($9.01) to GBX 390 ($5.32) in a report on Wednesday.
Get Our Latest Report on Bytes Technology Group
Bytes Technology Group Price Performance
The stock has a market capitalization of £846.69 million, a PE ratio of 16.26, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The stock's 50-day moving average is GBX 510.47 and its 200 day moving average is GBX 469.93.
Bytes Technology Group (LON:BYIT - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) earnings per share (EPS) for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. As a group, equities analysts predict that Bytes Technology Group plc will post 11.3463262 earnings per share for the current year.
Insider Transactions at Bytes Technology Group
In other news, insider Sam Mudd sold 65,264 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.83), for a total value of £326,320 ($445,488.05). Also, insider Andrew Holden sold 50,664 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.99), for a total transaction of £259,399.68 ($354,129.26). Insiders have sold 136,476 shares of company stock valued at $68,845,968 in the last ninety days. 9.51% of the stock is owned by company insiders.
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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