Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) traded up 17.9% during trading 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 503 ($6.49) and last traded at GBX 488.40 ($6.31). 156,397,625 shares traded 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 ($5.35).
Separately, Shore Capital reaffirmed a "buy" rating on shares of Bytes Technology Group in a research note on Tuesday.
Read Our Latest Stock Report on BYIT
Insider Activity
In other news, insider Ross Paterson acquired 2,800 shares of Bytes Technology Group stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average cost of GBX 427 ($5.51) per share, with a total value of £11,956 ($15,437.06). Company insiders own 9.51% of the company's stock.
Bytes Technology Group Price Performance
The stock's 50-day moving average price is GBX 440.68 and its 200 day moving average price is GBX 454.97. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of £1.18 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.27 and a beta of 0.65.
About Bytes Technology Group
(
Get Free Report)
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.
Read More
Before you consider Bytes Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bytes Technology Group wasn't on the list.
While Bytes Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
