Bytes Technology Group (LON:BYIT) Trading Up 0.6% – Still a Buy?

Bytes Technology Group plc (LON:BYIT)’s stock price was up 0.6% during trading on Friday . The company traded as high as GBX 304.40 and last traded at GBX 303. Approximately 153,097 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 3,388,738 shares. The stock had previously closed at GBX 301.20.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BYIT. Shore Capital Group reissued a “hold” rating on shares of Bytes Technology Group in a research report on Wednesday, March 25th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 320 price objective on shares of Bytes Technology Group in a research report on Friday, April 10th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 445.60.

Bytes Technology Group Trading Up 0.6%

The firm has a market capitalization of £716.20 million, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.27 and a beta of 0.70. The stock’s 50-day moving average price is GBX 296.87 and its 200 day moving average price is GBX 329.34. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.05 and a quick ratio of 0.98.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI 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. This has resulted in our long track record of strong financial performance.