Bytes Technology Group plc (LON:BYIT - Get Free Report)'s stock price traded up 17.2% 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 ($6.30) and last traded at GBX 485.80 ($6.27). 6,718,149 shares traded hands during mid-day trading, an increase of 370% from the average session volume of 1,427,929 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.
View Our Latest Analysis on BYIT
Insider Transactions 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 dated Monday, January 20th. The stock was bought at an average price of GBX 427 ($5.51) per share, with a total value of £11,956 ($15,437.06). Company insiders own 9.51% of the company's stock.
Bytes Technology Group Stock Down 0.2 %
The firm's 50-day moving average price is GBX 440.68 and its 200-day moving average price is GBX 454.97. The company has a market cap 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 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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