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

Bytes Technology Group plc (LON:BYIT) rose 17.9% during trading on Tuesday . The stock traded as high as GBX 503 ($6.54) and last traded at GBX 488.40 ($6.35). Approximately 156,397,625 shares changed hands during mid-day 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 ($5.39).

Analyst Upgrades and Downgrades

Separately, Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday.

Bytes Technology Group Trading Up 17.9 %

The company’s 50 day moving average price is GBX 436.45 and its 200 day moving average price is GBX 454.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. The firm has a market cap of £1.18 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Insider Activity at Bytes Technology Group

In other news, insider Ross Paterson bought 2,800 shares of Bytes Technology Group stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average price of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,543.42). 9.51% of the stock is 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.