Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price dropped 9.2% on Tuesday . The stock traded as low as GBX 363.80 ($4.85) and last traded at GBX 374 ($4.98). Approximately 3,373,107 shares traded hands during mid-day trading, an increase of 148% from the average daily volume of 1,361,680 shares. The stock had previously closed at GBX 412 ($5.49).
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating on the stock in a research report on Wednesday, July 2nd. Peel Hunt restated a "buy" rating and set a GBX 638 price objective on shares of Bytes Technology Group in a research note on Thursday, September 18th. Shore Capital restated a "hold" rating and set a GBX 410 price objective on shares of Bytes Technology Group in a research note on Tuesday. Finally, Berenberg Bank downgraded shares of Bytes Technology Group to a "hold" rating and reduced their price target for the company from GBX 660 to GBX 390 in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 477.
Check Out Our Latest Report on BYIT
Bytes Technology Group Trading Down 9.2%
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 capitalization of £897.05 million, a PE ratio of 1,703.87, a P/E/G ratio of 2.27 and a beta of 0.65. The stock has a 50 day moving average price of GBX 396.78 and a 200-day moving average price of GBX 440.71.
Bytes Technology Group (LON:BYIT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The company reported GBX 12.03 earnings per share (EPS) for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. Sell-side analysts expect that Bytes Technology Group plc will post 11.3463262 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Patrick De Smedt purchased 12,800 shares of the firm's stock in a transaction on Monday, August 18th. The shares were acquired at an average price of GBX 391 per share, for a total transaction of £50,048. Also, insider Ross Paterson bought 10,122 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of GBX 393 per share, for a total transaction of £39,779.46. Insiders have acquired 61,347 shares of company stock valued at $23,941,921 over the last three months. Insiders own 3.18% of the company's stock.
Bytes Technology Group Company Profile
(
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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