Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price dropped 5.9% during trading on Thursday . The stock traded as low as GBX 334.60 ($4.55) and last traded at GBX 334.60 ($4.55). Approximately 1,985,199 shares traded hands during mid-day trading, an increase of 73% from the average daily volume of 1,146,508 shares. The stock had previously closed at GBX 355.40 ($4.83).
Analyst Upgrades and Downgrades
BYIT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price target 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. Berenberg Bank cut shares of Bytes Technology Group to a "hold" rating and dropped their price target for the stock from GBX 660 ($8.97) to GBX 390 ($5.30) in a research report on Wednesday, July 2nd. Finally, Shore Capital cut shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday, July 2nd.
Read Our Latest Report on Bytes Technology Group
Bytes Technology Group Trading Down 0.6%
The company has a fifty day simple moving average of GBX 495.21 and a 200-day simple moving average of GBX 467.26. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market cap of £805.28 million, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.27 and a beta of 0.65.
Bytes Technology Group (LON:BYIT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) 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%. On average, research analysts forecast that Bytes Technology Group plc will post 11.3463262 earnings per share for the current fiscal year.
Insider Transactions at Bytes Technology Group
In related news, insider Andrew Holden sold 50,664 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was 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 business's stock in a transaction that occurred 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). Insiders sold a total of 136,476 shares of company stock worth $68,845,968 in the last quarter. 9.51% of the stock is owned by corporate 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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