Bytes Technology Group (LON:BYIT) Hits New 1-Year Low – What’s Next?

by · The Markets Daily

Bytes Technology Group plc (LON:BYIT – Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as GBX 415.80 ($5.23) and last traded at GBX 431.60 ($5.42), with a volume of 26631 shares changing hands. The stock had previously closed at GBX 434.60 ($5.46).

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BYIT shares. Shore Capital restated a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Berenberg Bank reissued a “buy” rating and issued a GBX 640 ($8.04) price target on shares of Bytes Technology Group in a report on Tuesday, October 15th.

Check Out Our Latest Research Report on Bytes Technology Group

Bytes Technology Group Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. The firm has a market capitalization of £1.02 billion, a PE ratio of 2,238.95, a PEG ratio of 2.27 and a beta of 0.65. The company has a 50-day moving average of GBX 459.57 and a 200 day moving average of GBX 488.76.

Bytes Technology Group Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were paid a GBX 3.10 ($0.04) dividend. The ex-dividend date was Thursday, November 7th. This represents a yield of 0.65%. Bytes Technology Group’s dividend payout ratio is presently 4,736.84%.

Bytes Technology Group Company Profile

(Get Free Report)

Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.

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