Bytes Technology Group (LON:BYIT) Stock Price Up 17.9% – Still a Buy?

Shares of Bytes Technology Group plc (LON:BYIT) were up 17.9% 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 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).

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a report on Friday, January 31st.

Bytes Technology Group Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The stock has a 50 day moving average of GBX 436.45 and a 200 day moving average of GBX 454.69. The stock has a market capitalization of £1.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.27 and a beta of 0.65.

Insider Transactions at Bytes Technology Group

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

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.