Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) were up 17.9% 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 503 ($6.49) and last traded at GBX 488.40 ($6.31). Approximately 156,397,625 shares were traded during trading, an increase of 3,624% from the average daily 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 report on Tuesday.
Read Our Latest Stock Report on Bytes Technology Group
Insider Buying and Selling at Bytes Technology Group
In other news, insider Ross Paterson bought 2,800 shares of the company's stock in a transaction dated Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,437.06). Company insiders own 9.51% of the company's stock.
Bytes Technology Group Trading Down 0.2 %
The company has a market capitalization 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 stock's 50 day moving average is GBX 440.68 and its 200-day moving average is GBX 454.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.
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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