Bytes Technology Group plc (LON:BYIT - Get Free Report) shares fell 9.2% during mid-day trading on Tuesday . The company traded as low as GBX 363.80 ($4.85) and last traded at GBX 374 ($4.99). 3,373,107 shares changed hands during mid-day trading, an increase of 148% from the average session volume of 1,361,680 shares. The stock had previously closed at GBX 412 ($5.49).
Analysts Set New Price Targets
A number of brokerages have issued reports on BYIT. Peel Hunt reiterated a "buy" rating and set a GBX 638 price target on shares of Bytes Technology Group in a research report on Thursday, September 18th. Shore Capital reaffirmed a "hold" rating and issued a GBX 410 target price on shares of Bytes Technology Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating for the company in a research note on Wednesday, July 2nd. Finally, Berenberg Bank downgraded Bytes Technology Group to a "hold" rating and dropped their price target for the stock from GBX 660 to GBX 390 in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of GBX 477.
Check Out Our Latest Stock Analysis on BYIT
Bytes Technology Group Stock Down 9.2%
The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm's 50 day moving average price is GBX 396.78 and its two-hundred day moving average price is GBX 440.71. The company has a market capitalization of £897.05 million, a P/E ratio of 1,703.87, a PEG ratio of 2.27 and a beta of 0.65.
Bytes Technology Group (LON:BYIT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported GBX 12.03 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%. Equities research analysts forecast that Bytes Technology Group plc will post 11.3463262 EPS for the current year.
Insider Transactions at Bytes Technology Group
In related news, insider Ross Paterson acquired 10,122 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of GBX 393 per share, with a total value of £39,779.46. Also, insider Anna Vikstrom Persson acquired 13,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of GBX 386 per share, for a total transaction of £50,180. Over the last ninety days, insiders bought 61,347 shares of company stock valued at $23,941,921. Company insiders own 3.18% 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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