Bytes Technology Group (LON:BYIT) Rating Reiterated by Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a GBX 640 ($8.36) target price on the stock. Berenberg Bank’s price objective points to a potential upside of 30.40% from the company’s current price.

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

Bytes Technology Group Price Performance

Shares of LON BYIT opened at GBX 490.80 ($6.41) on Tuesday. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08. Bytes Technology Group has a fifty-two week low of GBX 433.80 ($5.66) and a fifty-two week high of GBX 665 ($8.68). The stock has a market cap of £1.18 billion, a PE ratio of 2,583.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The stock has a fifty day moving average of GBX 484.05 and a 200-day moving average of GBX 506.92.

Insider Activity

In other Bytes Technology Group news, insider Sam Mudd acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of GBX 506 ($6.61) per share, for a total transaction of £25,300 ($33,037.35). Company insiders own 9.51% of the company’s stock.

About Bytes Technology Group

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.