Bytes Technology Group (LON:BYIT) Reaches New 12-Month Low - Should You Sell?

Bytes Technology Group plc (LON:BYIT - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 415.80 ($5.23) and last traded at GBX 431.60 ($5.43), 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 research analysts recently commented on BYIT shares. Berenberg Bank restated a "buy" rating and set a GBX 640 ($8.05) price target on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Shore Capital restated a "buy" rating on shares of Bytes Technology Group in a report on Tuesday, October 15th.

Bytes Technology Group Price Performance

The stock has a 50-day simple moving average of GBX 462.26 and a 200 day simple moving average of GBX 490.70. The stock has a market capitalization of £1.03 billion, a P/E ratio of 2,240.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08.

Bytes Technology Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were issued a dividend of GBX 3.10 ($0.04) per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a yield of 0.65%. Bytes Technology Group's dividend payout ratio is currently 4,736.84%.

Bytes Technology Group Company Profile

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.