Bytes Technology Group plc (LON:BYIT - Get Free Report) fell 5.9% during mid-day trading on Thursday . The company traded as low as GBX 334.60 ($4.55) and last traded at GBX 334.60 ($4.55). 1,985,199 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 1,146,508 shares. The stock had previously closed at GBX 355.40 ($4.83).
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on BYIT. Berenberg Bank cut shares of Bytes Technology Group to a "hold" rating and reduced their price objective for the stock from GBX 660 ($8.97) to GBX 390 ($5.30) in a research note on Wednesday, July 2nd. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bytes Technology Group from GBX 575 ($7.81) to GBX 470 ($6.39) and set a "hold" rating for the company in a research report on Wednesday, July 2nd.
Check Out Our Latest Stock Report on Bytes Technology Group
Bytes Technology Group Stock Down 0.6%
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 company's 50-day simple moving average is GBX 495.21 and its 200 day simple moving average is GBX 467.26. The firm has a market cap 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 released 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%. Research analysts anticipate that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.
Insider Activity
In related news, insider Andrew Holden sold 50,664 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.96), for a total value of £259,399.68 ($352,397.34). Also, insider Sam Mudd sold 65,264 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.79), for a total transaction of £326,320 ($443,309.33). Insiders sold a total of 136,476 shares of company stock valued at $68,845,968 in the last 90 days. Company insiders own 9.51% 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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