Shore Capital Reiterates Buy Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reiterated by research analysts at Shore Capital in a report released on Friday,London Stock Exchange reports.

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 640 ($7.95) price target on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Stock Performance

Shares of BYIT traded up GBX 1.60 ($0.02) during mid-day trading on Friday, hitting GBX 462.20 ($5.74). 274,999 shares of the company’s stock were exchanged, compared to its average volume of 1,142,120. Bytes Technology Group has a fifty-two week low of GBX 405 ($5.03) and a fifty-two week high of GBX 663 ($8.23). The firm has a market capitalization of £1.11 billion, a P/E ratio of 2,432.63, a P/E/G ratio of 2.27 and a beta of 0.65. The business’s 50 day moving average is GBX 437.11 and its two-hundred day moving average is GBX 464.92. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 3.50.

Insider Transactions at Bytes Technology Group

In other Bytes Technology Group news, insider Ross Paterson acquired 2,800 shares of the stock in a transaction that occurred on Monday, January 20th. The stock was acquired at an average price of GBX 427 ($5.30) per share, with a total value of £11,956 ($14,848.48). Insiders own 9.51% of the company’s stock.

Bytes Technology Group Company Profile

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.