Bytes Technology Group (LON:BYIT) Given Buy Rating at Shore Capital

Shore Capital reiterated their buy rating on shares of Bytes Technology Group (LON:BYIT) in a report issued on Friday morning,London Stock Exchange reports.

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 640 ($7.93) price objective on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Price Performance

Shares of BYIT stock opened at GBX 462.20 ($5.73) on Friday. Bytes Technology Group has a twelve month low of GBX 405 ($5.02) and a twelve month high of GBX 663 ($8.22). The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 3.50. The stock has a fifty day simple moving average of GBX 437.41 and a two-hundred day simple moving average of GBX 464.67. The stock has a market capitalization of £1.11 billion, a price-to-earnings ratio of 2,432.63, a P/E/G ratio of 2.27 and a beta of 0.65.

Insider Activity

In other Bytes Technology Group news, insider Ross Paterson purchased 2,800 shares of the firm’s stock in a transaction on Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.29) per share, for a total transaction of £11,956 ($14,817.20). Company insiders own 9.51% of the company’s stock.

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.