Bytes Technology Group (LON:BYIT) Trading 17.9% Higher – Should You Buy?

Bytes Technology Group plc (LON:BYIT) shares traded up 17.9% during trading on Tuesday . The stock traded as high as GBX 503 ($6.54) and last traded at GBX 488.40 ($6.35). 156,397,625 shares traded hands 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 ($5.39).

Analyst Ratings Changes

Separately, Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a report on Friday, January 31st.

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 firm has a fifty day simple moving average of GBX 435.31 and a 200 day simple moving average of GBX 454.59. The company has a market capitalization of £1.18 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Insider Buying and Selling at Bytes Technology Group

In other news, insider Ross Paterson bought 2,800 shares of the firm’s stock in a transaction dated Monday, January 20th. The shares were acquired at an average price of GBX 427 ($5.55) per share, for a total transaction of £11,956 ($15,543.42). 9.51% of the stock is owned by corporate insiders.

Bytes Technology Group Company Profile

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.