Bytes Technology Group plc (LON:BYIT - Get Free Report)'s stock price dropped 0.8% during trading on Wednesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 575 to GBX 470. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Bytes Technology Group traded as low as GBX 504 ($6.88) and last traded at GBX 508.46 ($6.94). Approximately 401,490 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,028,260 shares. The stock had previously closed at GBX 512.50 ($6.99).
Other research analysts also recently issued research reports about the stock. Shore Capital downgraded shares of Bytes Technology Group to a "hold" rating in a report on Wednesday. Berenberg Bank downgraded shares of Bytes Technology Group to a "hold" rating and lowered their price target for the company from GBX 660 ($9.01) to GBX 390 ($5.32) in a report on Wednesday.
Read Our Latest Research Report on Bytes Technology Group
Insider Transactions at Bytes Technology Group
In related news, insider Sam Mudd sold 65,264 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of GBX 500 ($6.82), for a total value of £326,320 ($445,244.92). Also, insider Andrew Holden sold 50,664 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of GBX 512 ($6.99), for a total transaction of £259,399.68 ($353,935.98). Insiders sold a total of 136,476 shares of company stock worth $68,845,968 over the last three months. 9.51% of the stock is currently owned by corporate insiders.
Bytes Technology Group Trading Up 1.5%
The stock's 50-day moving average price is GBX 507.53 and its 200 day moving average price is GBX 469.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. The firm has a market capitalization of £859.76 million, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.
Bytes Technology Group (LON:BYIT - Get Free Report) last posted 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 net margin of 25.47% and a return on equity of 66.59%. On average, sell-side analysts expect that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.
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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