Bytes Technology Group plc (LON:BYIT - Get Free Report) shot up 17.9% 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). 156,397,625 shares were traded during mid-day 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 reiterated a "buy" rating on shares of Bytes Technology Group in a report on Tuesday.
View Our Latest Stock Analysis on BYIT
Insider Transactions at Bytes Technology Group
In other Bytes Technology Group news, insider Ross Paterson acquired 2,800 shares of the firm's stock in a transaction dated Monday, January 20th. The shares were acquired at an average price of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,437.06). Insiders own 9.51% of the company's stock.
Bytes Technology Group Stock Down 0.2 %
The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of £1.18 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The firm has a 50-day moving average of GBX 440.68 and a two-hundred day 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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