Bytes Technology Group (LON:BYIT) Stock Price Down 5.9% - What's Next?

Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) traded down 5.9% during mid-day trading on Friday . The company traded as low as GBX 334.60 ($4.55) and last traded at GBX 334.60 ($4.55). 1,985,199 shares changed hands during 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).

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday, July 2nd. 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 on the stock in a research report on Wednesday, July 2nd. Finally, Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and dropped their target price for the stock from GBX 660 ($8.97) to GBX 390 ($5.30) in a research report on Wednesday, July 2nd.

Bytes Technology Group Price Performance

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 company's 50 day moving average price is GBX 495.21 and its 200 day moving average price is GBX 467.26. The company has a market cap of £801.67 million, a price-to-earnings ratio of 15.39, a P/E/G ratio of 2.27 and a beta of 0.65.

Bytes Technology Group (LON:BYIT - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) EPS for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. On average, equities research analysts predict that Bytes Technology Group plc will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling at Bytes Technology Group

In other news, insider Sam Mudd sold 65,264 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of GBX 500 ($6.79), for a total value of £326,320 ($443,309.33). Also, insider Andrew Holden sold 50,664 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.96), for a total transaction of £259,399.68 ($352,397.34). Insiders sold a total of 136,476 shares of company stock worth $68,845,968 in the last 90 days. 9.51% of the stock is owned by corporate insiders.

About Bytes Technology Group

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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