Bytes Technology Group (LON:BYIT) Sets New 1-Year Low – Time to Sell?

Bytes Technology Group plc (LON:BYIT)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as GBX 409.80 ($5.07) and last traded at GBX 414.60 ($5.12), with a volume of 103527 shares traded. The stock had previously closed at GBX 416.20 ($5.14).

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 640 ($7.91) price objective on shares of Bytes Technology Group in a research note on Tuesday, October 15th. Shore Capital reiterated a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Stock Down 0.7 %

The firm has a market cap of £995.84 million, a PE ratio of 2,175.79, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. The business has a 50-day moving average price of GBX 444.18 and a two-hundred day moving average price of GBX 477.57.

Bytes Technology Group Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th were given a GBX 3.10 ($0.04) dividend. This represents a yield of 0.65%. The ex-dividend date was Thursday, November 7th. Bytes Technology Group’s dividend payout ratio is currently 4,736.84%.

About Bytes Technology Group

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.