Bytes Technology Group plc (LON:BYIT - Get Free Report) shares 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 were traded 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 report on Tuesday.
Read Our Latest Report on Bytes Technology Group
Insider Activity at Bytes Technology Group
In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of the stock in a transaction that occurred on Monday, January 20th. The shares were acquired at an average price of GBX 427 ($5.51) per share, with a total value of £11,956 ($15,437.06). 9.51% of the stock is currently owned by insiders.
Bytes Technology Group Stock Performance
The firm has a market cap of £1.18 billion, a P/E ratio of 22.73, a PEG ratio of 2.27 and a beta of 0.65. The stock's 50 day moving average is GBX 440.68 and its two-hundred day moving average is GBX 454.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.
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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