Bytes Technology Group (LON:BYIT) Stock Price Down 0.7% – Time to Sell?

Bytes Technology Group plc (LON:BYIT) was down 0.7% on Wednesday . The company traded as low as GBX 446.40 ($5.81) and last traded at GBX 446.40 ($5.81). Approximately 781,778 shares were traded during trading, a decline of 9% from the average daily volume of 859,470 shares. The stock had previously closed at GBX 449.60 ($5.85).

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BYIT shares. Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 640 ($8.33) target price on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Stock Down 0.7 %

The company has a market capitalization of £1.08 billion, a P/E ratio of 2,349.47, a PEG ratio of 2.27 and a beta of 0.65. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 3.50. The stock has a 50 day moving average price of GBX 483.09 and a 200 day moving average price of GBX 504.66.

Bytes Technology Group Cuts Dividend

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

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.