Bytes Technology Group (LON:BYIT) Shares Down 6.1%

Bytes Technology Group plc (LON:BYIT) traded down 6.1% on Thursday . The stock traded as low as GBX 486.60 ($6.23) and last traded at GBX 492 ($6.30). 2,183,431 shares changed hands during trading, an increase of 218% from the average session volume of 686,832 shares. The stock had previously closed at GBX 524 ($6.71).

Bytes Technology Group Stock Down 6.1 %

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 company has a market capitalization of £1.18 billion, a P/E ratio of 2,589.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.67. The company has a 50-day moving average of GBX 543.73 and a two-hundred day moving average of GBX 557.52.

Bytes Technology Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, August 2nd. Shareholders of record on Thursday, July 18th will be issued a GBX 14.70 ($0.19) dividend. This represents a yield of 2.58%. This is an increase from Bytes Technology Group’s previous dividend of $2.70. The ex-dividend date is Thursday, July 18th. Bytes Technology Group’s payout ratio is 4,736.84%.

Insiders Place Their Bets

In other Bytes Technology Group news, insider Anna Vikstrom Persson purchased 1,109 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was purchased at an average price of GBX 546 ($6.99) per share, for a total transaction of £6,055.14 ($7,756.04). In other news, insider Sam Mudd acquired 8,900 shares of Bytes Technology Group stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average price of GBX 561 ($7.19) per share, for a total transaction of £49,929 ($63,954.14). Also, insider Anna Vikstrom Persson acquired 1,109 shares of Bytes Technology Group stock in a transaction that occurred on Tuesday, June 25th. The shares were purchased at an average price of GBX 546 ($6.99) per share, with a total value of £6,055.14 ($7,756.04). Over the last three months, insiders have purchased 16,438 shares of company stock valued at $9,275,802. 9.52% of the stock is currently owned by corporate insiders.

About Bytes Technology Group

Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.