Shore Capital Reiterates Buy Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reissued by equities research analysts at Shore Capital in a report released on Thursday, Digital Look reports.

Bytes Technology Group Stock Performance

Shares of LON BYIT traded up GBX 38.90 ($0.51) during trading on Thursday, reaching GBX 513.50 ($6.78). 1,700,112 shares of the company traded hands, compared to its average volume of 864,786. The firm has a 50 day simple moving average of GBX 477.67 and a 200-day simple moving average of GBX 512.64. 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 stock has a market capitalization of £1.24 billion, a PE ratio of 2,702.63, a P/E/G ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a 52-week low of GBX 408.90 ($5.40) and a 52-week high of GBX 665 ($8.78).

Insider Buying and Selling

In related news, insider Andrew Holden sold 5,169 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of GBX 496 ($6.55), for a total value of £25,638.24 ($33,868.22). In other Bytes Technology Group news, insider Sam Mudd acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of GBX 506 ($6.68) per share, with a total value of £25,300 ($33,421.40). Also, insider Andrew Holden sold 5,169 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of GBX 496 ($6.55), for a total transaction of £25,638.24 ($33,868.22). 9.52% 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.