Bytes Technology Group plc (LON:BYIT - Get Free Report) shares traded up 14.4% during mid-day 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 487.60 ($6.32) and last traded at GBX 474 ($6.15). 6,013,226 shares were traded during mid-day trading, an increase of 325% from the average session volume of 1,414,875 shares. The stock had previously closed at GBX 414.40 ($5.37).
Separately, Shore Capital reiterated a "buy" rating on shares of Bytes Technology Group in a research note on Tuesday.
Read Our Latest Research Report on BYIT
Insiders Place Their Bets
In other news, insider Ross Paterson acquired 2,800 shares of the stock in a transaction dated Monday, January 20th. The stock was bought at an average price of GBX 427 ($5.54) per share, with a total value of £11,956 ($15,503.11). Insiders own 9.51% of the company's stock.
Bytes Technology Group Stock Performance
The stock has a 50 day moving average of GBX 439.24 and a 200 day moving average of GBX 454.88. The company 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.
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