Shares of Bytes Technology Group plc (LON:BYIT – Get Free Report) shot up 14.4% during mid-day trading on Tuesday after Berenberg Bank raised their price target on the stock from GBX 640 to GBX 660. Berenberg Bank currently has a buy rating on the stock. Bytes Technology Group traded as high as GBX 487.60 ($6.34) and last traded at GBX 474 ($6.17). 6,013,226 shares traded hands during mid-day trading, an increase of 325% from the average session volume of 1,414,875 shares. The stock had previously closed at GBX 414.40 ($5.39).
Separately, Shore Capital reaffirmed a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday.
Check Out Our Latest Research Report on Bytes Technology Group
Insider Activity at Bytes Technology Group
Bytes Technology Group Price Performance
The firm has a fifty day moving average price of GBX 437.91 and a two-hundred day moving average price of GBX 454.81. The stock has a market capitalization of £1.18 billion, a P/E ratio of 22.74, a PEG ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09.
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.
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