Bytes Technology Group plc (LON:BYIT - Get Free Report) dropped 1.5% on Friday . The company traded as low as GBX 352 ($4.68) and last traded at GBX 361.40 ($4.81). Approximately 1,303,712 shares traded hands during trading, an increase of 14% from the average daily volume of 1,148,137 shares. The stock had previously closed at GBX 367 ($4.88).
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on BYIT. Shore Capital downgraded Bytes Technology Group to a "hold" rating in a research note on Wednesday, July 2nd. Berenberg Bank lowered Bytes Technology Group to a "hold" rating and decreased their target price for the stock from GBX 660 ($8.78) to GBX 390 ($5.19) in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bytes Technology Group from GBX 575 ($7.65) to GBX 470 ($6.25) and set a "hold" rating on the stock in a report on Wednesday, July 2nd.
View Our Latest Research Report on Bytes Technology Group
Bytes Technology Group Stock Performance
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 £878.64 million, a PE ratio of 16.87, a P/E/G ratio of 2.27 and a beta of 0.65. The business has a 50-day simple moving average of GBX 432.35 and a 200-day simple moving average of GBX 457.89.
Bytes Technology Group (LON:BYIT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported GBX 25.07 ($0.33) 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%. Equities research analysts expect that Bytes Technology Group plc will post 11.3463262 earnings per share for the current fiscal year.
Insider Activity 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 stock was sold at an average price of GBX 500 ($6.65), for a total value of £326,320 ($433,878.47). Also, insider Andrew Holden sold 50,664 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.81), for a total transaction of £259,399.68 ($344,900.52). In the last three months, insiders sold 136,476 shares of company stock worth $68,845,968. Company insiders own 9.51% of the company's stock.
About Bytes Technology Group
(
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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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