Bytes Technology Group (LON:BYIT) Trading 17.9% Higher – Should You Buy?

Bytes Technology Group plc (LON:BYIT) traded up 17.9% during trading on Tuesday . The stock traded as high as GBX 503 ($6.53) and last traded at GBX 488.40 ($6.34). 156,397,625 shares changed hands 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 ($5.38).

Analyst Upgrades and Downgrades

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

Bytes Technology Group Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The firm’s 50 day simple moving average is GBX 435.31 and its 200 day simple moving average is GBX 454.59. The firm has a market capitalization of £1.18 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.27 and a beta of 0.65.

Insider Buying and Selling at Bytes Technology Group

In other news, insider Ross Paterson bought 2,800 shares of the firm’s stock in a transaction that occurred 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 ($15,529.29). Company insiders own 9.51% of the company’s stock.

About Bytes Technology Group

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.