Bytes Technology Group plc (LON:BYIT - Get Free Report) traded up 15.9% on Tuesday after Berenberg Bank raised their price target on the stock from GBX 640 to GBX 660. Berenberg Bank currently has a buy rating on the stock. Bytes Technology Group traded as high as GBX 487.60 ($6.30) and last traded at GBX 480.09 ($6.20). 6,504,354 shares changed hands during mid-day trading, an increase of 357% from the average session volume of 1,423,970 shares. The stock had previously closed at GBX 414.40 ($5.35).
Separately, Shore Capital restated a "buy" rating on shares of Bytes Technology Group in a research report on Tuesday.
Check Out Our Latest Report on Bytes Technology Group
Insider Buying and Selling at Bytes Technology Group
In related news, insider Ross Paterson bought 2,800 shares of Bytes Technology Group stock in a transaction dated Monday, January 20th. The shares were bought at an average cost of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,437.06). Company insiders own 9.51% of the company's stock.
Bytes Technology Group Price Performance
The company's fifty day moving average is GBX 440.68 and its two-hundred day moving average is GBX 454.97. The firm has a market capitalization of £1.18 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67.
About Bytes Technology Group
(
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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.
Further Reading
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