Bytes Technology Group (LON:BYIT) Given Buy Rating at Shore Capital

Shore Capital reissued their buy rating on shares of Bytes Technology Group (LON:BYIT) in a report released on Tuesday morning, Marketbeat Ratings reports.

Bytes Technology Group Trading Up 2.7 %

Shares of BYIT stock opened at GBX 486.70 ($6.36) on Tuesday. The firm’s 50-day simple moving average is GBX 483.96 and its 200-day simple moving average is GBX 507.03. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.08 and a quick ratio of 0.98. Bytes Technology Group has a 1-year low of GBX 433.80 ($5.66) and a 1-year high of GBX 665 ($8.68). The firm has a market cap of £1.17 billion, a P/E ratio of 2,493.68, a PEG ratio of 2.27 and a beta of 0.65.

Bytes Technology Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be paid a dividend of GBX 3.10 ($0.04) per share. The ex-dividend date is Thursday, November 7th. This represents a yield of 0.65%. Bytes Technology Group’s dividend payout ratio is currently 4,736.84%.

Insider Activity at Bytes Technology Group

In related news, insider Sam Mudd bought 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired 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.