Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price dropped 5.9% during trading on Thursday . The stock traded as low as GBX 334.60 ($4.51) and last traded at GBX 334.60 ($4.51). Approximately 1,985,199 shares changed hands during trading, an increase of 73% from the average daily volume of 1,146,508 shares. The stock had previously closed at GBX 355.40 ($4.79).
Wall Street Analysts Forecast Growth
BYIT has been the topic of several recent research reports. Shore Capital lowered Bytes Technology Group to a "hold" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Bytes Technology Group from GBX 575 ($7.75) to GBX 470 ($6.34) and set a "hold" rating on the stock in a research report on Wednesday, July 2nd. Finally, Berenberg Bank lowered Bytes Technology Group to a "hold" rating and reduced their price objective for the company from GBX 660 ($8.90) to GBX 390 ($5.26) in a research report on Wednesday, July 2nd.
Check Out Our Latest Report on Bytes Technology Group
Bytes Technology Group Trading Down 0.6%
The firm has a 50-day moving average of GBX 491.35 and a 200-day moving average of GBX 467.26. 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 firm has a market capitalization of £805.28 million, a P/E ratio of 15.46, 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 (EPS) for the quarter. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%. On average, equities research analysts anticipate that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Andrew Holden sold 50,664 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of GBX 512 ($6.90), for a total value of £259,399.68 ($349,830.99). Also, insider Sam Mudd sold 65,264 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of GBX 500 ($6.74), for a total value of £326,320 ($440,080.92). Over the last quarter, insiders sold 136,476 shares of company stock worth $68,845,968. Corporate insiders own 9.51% of the company's stock.
Bytes Technology Group Company Profile
(
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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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