Insider Buying: Bytes Technology Group (LON:BYIT) Insider Purchases 12,800 Shares of Stock

Key Points

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Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Patrick De Smedt acquired 12,800 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of GBX 391 per share, with a total value of £50,048.

Bytes Technology Group Trading Up 1.5%

BYIT stock traded up GBX 6 during mid-day trading on Friday, hitting GBX 403. 1,060,355 shares of the company were exchanged, compared to its average volume of 1,136,805. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of £975.46 million, a P/E ratio of 18.73, a PEG ratio of 2.27 and a beta of 0.65. The business has a fifty day simple moving average of GBX 393.41 and a 200-day simple moving average of GBX 451.59. Bytes Technology Group plc has a 12-month low of GBX 317.60 and a 12-month high of GBX 563.

Analysts Set New Price Targets

BYIT has been the subject of several research analyst reports. Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and lowered their target price for the stock from GBX 660 to GBX 390 in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating on the stock in a report on Wednesday, July 2nd. Finally, Shore Capital downgraded Bytes Technology Group to a "hold" rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of GBX 430.

Bytes Technology Group Company Profile

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.