Bytes Technology Group (LON:BYIT) Shares Down 5.4% – Should You Sell?

Bytes Technology Group plc (LON:BYIT) was down 5.4% on Thursday . The company traded as low as GBX 465.40 ($6.09) and last traded at GBX 479 ($6.27). Approximately 1,289,027 shares traded hands during trading, an increase of 52% from the average daily volume of 847,072 shares. The stock had previously closed at GBX 506.50 ($6.63).

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Bytes Technology Group in a research report on Tuesday.

Bytes Technology Group Stock Down 5.4 %

The firm has a market capitalization of £1.15 billion, a P/E ratio of 2,500.00, a PEG ratio of 2.27 and a beta of 0.65. The firm’s 50-day moving average is GBX 483.52 and its 200 day moving average is GBX 507.89. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08.

Insider Activity at Bytes Technology Group

In related news, insider Andrew Holden sold 5,169 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of GBX 496 ($6.49), for a total value of £25,638.24 ($33,553.51). In other Bytes Technology Group news, insider Sam Mudd purchased 5,000 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of GBX 506 ($6.62) per share, for a total transaction of £25,300 ($33,110.85). Also, insider Andrew Holden sold 5,169 shares of Bytes Technology Group stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of GBX 496 ($6.49), for a total transaction of £25,638.24 ($33,553.51). 9.51% of the stock is currently owned by insiders.

Bytes Technology Group Company Profile

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.