Bytes Technology Group (LON:BYIT) Trading Up 20.3% – Time to Buy?

Bytes Technology Group plc (LON:BYIT)’s share price was up 20.3% during trading on Tuesday . The company traded as high as GBX 498.80 ($6.48) and last traded at GBX 498.60 ($6.48). Approximately 7,128,283 shares were traded during trading, an increase of 397% from the average daily volume of 1,435,524 shares. The stock had previously closed at GBX 414.40 ($5.38).

Analyst Upgrades and Downgrades

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

Bytes Technology Group Stock Up 20.3 %

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 firm has a market cap of £1.21 billion, a PE ratio of 23.17, a PEG ratio of 2.27 and a beta of 0.65. The stock has a fifty day moving average price of GBX 435.31 and a 200-day moving average price of GBX 454.59.

Insider Buying and Selling

In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of the business’s stock in a transaction on Monday, January 20th. The shares were bought at an average cost of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,529.29). 9.51% of the stock is currently 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.