Bytes Technology Group plc (LON:BYIT - Get Free Report)'s share price 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.
Get Our Latest Report on Bytes Technology Group
Insider Buying and Selling at Bytes Technology Group
In other Bytes Technology Group news, insider Ross Paterson acquired 2,800 shares of the company's stock in a transaction on Monday, January 20th. The shares were purchased at an average cost of GBX 427 ($5.51) per share, with a total value of £11,956 ($15,437.06). Insiders own 9.51% of the company's stock.
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 company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The company's 50-day moving average is GBX 440.68 and its two-hundred day moving average is 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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