Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price traded down 32.8% during trading on Wednesday . The company traded as low as GBX 341.60 ($4.66) and last traded at GBX 341.60 ($4.66). 10,191,200 shares changed hands during trading, an increase of 826% from the average session volume of 1,100,981 shares. The stock had previously closed at GBX 508.50 ($6.94).
Wall Street Analysts Forecast Growth
BYIT has been the topic of several recent research reports. Berenberg Bank increased their price objective on shares of Bytes Technology Group from GBX 640 ($8.74) to GBX 660 ($9.01) and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Shore Capital cut shares of Bytes Technology Group to a "hold" rating in a report on Wednesday.
Check Out Our Latest Research Report on BYIT
Bytes Technology Group Trading Down 32.8%
The stock has a market cap of £826.85 million, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The stock's 50-day moving average is GBX 516.09 and its two-hundred day moving average is GBX 471.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.
Bytes Technology Group (LON:BYIT - Get Free Report) last announced its quarterly 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%. Equities research analysts anticipate that Bytes Technology Group plc will post 11.3463262 EPS for the current year.
Insider Transactions at Bytes Technology Group
In related news, insider Andrew Holden sold 50,664 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of GBX 512 ($6.99), for a total transaction of £259,399.68 ($354,225.97). 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 ($6.83), for a total value of £326,320 ($445,609.72). Insiders sold 136,476 shares of company stock worth $68,845,968 over the last quarter. 9.51% of the stock is owned by company insiders.
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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