Bytes Technology Group plc (LON:BYIT - Get Free Report) shares traded up 17.9% during mid-day trading on Wednesday 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 were traded during mid-day 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 report on Tuesday.
Check Out Our Latest Stock Report on Bytes Technology Group
Insider Buying and Selling at Bytes Technology Group
In related news, insider Ross Paterson acquired 2,800 shares of the stock in a transaction dated Monday, January 20th. The stock was acquired at an average cost of GBX 427 ($5.51) per share, with a total value of £11,956 ($15,437.06). 9.51% of the stock is currently owned by corporate insiders.
Bytes Technology Group Stock Performance
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 stock has a 50 day simple moving average of GBX 440.68 and a two-hundred day simple moving average of GBX 454.97. The company has a market cap of £1.18 billion, a PE ratio of 22.73, a PEG ratio of 2.27 and a beta of 0.65.
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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