Bytes Technology Group plc (LON:BYIT - Get Free Report) shares rose 19.6% 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 496.60 ($6.41) and last traded at GBX 495.60 ($6.40). Approximately 6,850,618 shares traded hands during mid-day trading, an increase of 379% from the average daily volume of 1,430,283 shares. The stock had previously closed at GBX 414.40 ($5.35).
Separately, Shore Capital reiterated a "buy" rating on shares of Bytes Technology Group in a research note on Tuesday.
Get Our Latest Analysis on BYIT
Insider Activity at Bytes Technology Group
In other news, insider Ross Paterson acquired 2,800 shares of the business's stock in a transaction dated Monday, January 20th. The stock was purchased at an average price of GBX 427 ($5.51) per share, for a total transaction of £11,956 ($15,437.06). 9.51% of the stock is owned by corporate insiders.
Bytes Technology Group Stock Down 0.2 %
The stock 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 business has a 50-day moving average price of GBX 440.68 and a 200 day moving average price of GBX 454.97. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67.
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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