Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) were down 5.9% during mid-day trading on Friday . The company 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 Analyst Weigh In
A number of equities research analysts have issued reports on BYIT shares. Deutsche Bank Aktiengesellschaft decreased 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. Berenberg Bank downgraded Bytes Technology Group to a "hold" rating and reduced their price target for the stock from GBX 660 ($8.90) to GBX 390 ($5.26) in a report on Wednesday, July 2nd. Finally, Shore Capital downgraded Bytes Technology Group to a "hold" rating in a report on Wednesday, July 2nd.
Get Our Latest Research Report on Bytes Technology Group
Bytes Technology Group Stock Performance
The company has a market cap of £776.50 million, a P/E ratio of 14.91, a PEG ratio of 2.27 and a beta of 0.65. 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 quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67.
Bytes Technology Group (LON:BYIT - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.
Insider Buying and Selling at Bytes Technology Group
In other news, insider Andrew Holden sold 50,664 shares of the firm's stock in a transaction 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 on Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.74), for a total value of £326,320 ($440,080.92). Insiders have sold a total of 136,476 shares of company stock worth $68,845,968 in the last ninety days. 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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