Bytes Technology Group (LON:BYIT) Stock Price Up 17.9% – What’s Next?

Bytes Technology Group plc (LON:BYIT)’s share price rose 17.9% during trading on Tuesday . The stock traded as high as GBX 503 ($6.53) and last traded at GBX 488.40 ($6.34). Approximately 156,397,625 shares changed hands during trading, an increase of 3,624% from the average daily volume of 4,199,771 shares. The stock had previously closed at GBX 414.40 ($5.38).

Analyst Ratings Changes

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

Bytes Technology Group Trading Up 17.9 %

The company has a 50-day simple moving average of GBX 435.31 and a 200-day simple moving average of GBX 454.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The stock has a market cap of £1.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.27 and a beta of 0.65.

Insider Buying and Selling

In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of the stock in a transaction on Monday, January 20th. The stock was purchased at an average price of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,529.29). 9.51% of the stock is currently 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.