Bytes Technology Group (LON:BYIT) Trading Up 17.9% – Here’s What Happened

by · The Markets Daily

Bytes Technology Group plc (LON:BYIT – Get Free Report)’s stock price shot up 17.9% on Tuesday . The company traded as high as GBX 503 ($6.54) and last traded at GBX 488.40 ($6.35). 156,397,625 shares were traded during trading, an increase of 3,624% from the average session volume of 4,199,771 shares. The stock had previously closed at GBX 414.40 ($5.39).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated a “buy” rating on shares of Bytes Technology Group in a research report on Friday, January 31st.

Read Our Latest Report on BYIT

Bytes Technology Group Trading Up 17.9 %

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 firm has a market capitalization of £1.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.27 and a beta of 0.65. The firm has a 50-day moving average of GBX 435.31 and a two-hundred day moving average of GBX 454.59.

Insider Buying and Selling

In other news, insider Ross Paterson bought 2,800 shares of the company’s stock in a transaction on Monday, January 20th. The stock was purchased at an average cost of GBX 427 ($5.55) per share, for a total transaction of £11,956 ($15,543.42). 9.51% of the stock is owned by corporate insiders.

Bytes Technology Group Company Profile

(Get Free Report)

With a 40-year track record, Bytes Technology Group is one of the UK’s leading providers of software, security and cloud services. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware 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.

See Also