Bytes Technology Group (LON:BYIT) Trading Down 0.1% - Here's Why

Bytes Technology Group plc (LON:BYIT - Get Free Report) shares dropped 0.1% during mid-day trading on Friday . The stock traded as low as GBX 442.40 ($5.59) and last traded at GBX 443.40 ($5.60). Approximately 237,674 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 944,840 shares. The stock had previously closed at GBX 444 ($5.61).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a "buy" rating on shares of Bytes Technology Group in a research report on Friday, January 31st.

Bytes Technology Group Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. The company has a market cap of £1.07 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The firm's 50-day moving average price is GBX 437.25 and its 200-day moving average price is GBX 460.81.

Insider Buying and Selling at Bytes Technology Group

In related news, insider Ross Paterson purchased 2,800 shares of the firm's stock in a transaction on Monday, January 20th. The stock was purchased at an average price of GBX 427 ($5.39) per share, for a total transaction of £11,956 ($15,105.50). 9.51% of the stock is currently owned by corporate insiders.

Bytes Technology Group Company Profile

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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