Bytes Technology Group plc (LON:BYIT - Get Free Report) rose 17.9% during trading on Wednesday 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). Approximately 156,397,625 shares changed hands during 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 ($5.35).
Separately, Shore Capital reissued a "buy" rating on shares of Bytes Technology Group in a research report on Tuesday.
Get Our Latest Research Report on BYIT
Insider Transactions at Bytes Technology Group
In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of Bytes Technology Group stock in a transaction dated Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,437.06). 9.51% of the stock is currently owned by corporate insiders.
Bytes Technology Group Price Performance
The stock 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. 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 fifty day simple moving average of GBX 440.68 and a two-hundred day simple moving average of GBX 454.97.
Bytes Technology Group Company Profile
(
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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.
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