Bytes Technology Group (LON:BYIT) Stock Price Up 17.9% – What’s Next?

Bytes Technology Group plc (LON:BYIT) rose 17.9% on Tuesday . The company traded as high as GBX 503 ($6.53) and last traded at GBX 488.40 ($6.34). Approximately 156,397,625 shares changed hands during mid-day trading, an increase of 3,624% from the average daily volume of 4,199,771 shares. The stock had previously closed at GBX 414.40 ($5.38).

Analyst Ratings Changes

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

Bytes Technology Group Stock Up 17.9 %

The stock has a 50 day moving average price of GBX 435.31 and a 200 day moving average price of GBX 454.59. 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 company has a market capitalization of £1.18 billion, a P/E ratio of 22.70, a PEG ratio of 2.27 and a beta of 0.65.

Insiders Place Their Bets

In other news, insider Ross Paterson purchased 2,800 shares of the company’s stock in a transaction dated Monday, January 20th. The shares were purchased at an average price of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,529.29). 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.