Bytes Technology Group plc (LON:BYIT - Get Free Report) shot up 14.4% 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 487.60 ($6.32) and last traded at GBX 474 ($6.15). 6,013,226 shares traded hands during 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.
Check Out Our Latest Stock Report on BYIT
Insider Activity
In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of the firm's stock in a transaction dated Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.54) per share, with a total value of £11,956 ($15,503.11). Company insiders own 9.51% of the company's stock.
Bytes Technology Group Price Performance
The firm has a market cap of £1.18 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a fifty day moving average of GBX 439.24 and a 200-day moving average of GBX 454.88. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.
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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