Bytes Technology Group (LON:BYIT) Sets New 12-Month Low – Here’s What Happened

Bytes Technology Group plc (LON:BYIT) hit a new 52-week low during trading on Thursday . The company traded as low as GBX 409.80 ($5.00) and last traded at GBX 414.60 ($5.06), with a volume of 103527 shares changing hands. The stock had previously closed at GBX 416.20 ($5.08).

Analysts Set New Price Targets

A number of research firms have issued reports on BYIT. Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Berenberg Bank restated a “buy” rating and set a GBX 640 ($7.81) target price on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Price Performance

The company has a debt-to-equity ratio of 3.50, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a fifty day simple moving average of GBX 442.47 and a 200-day simple moving average of GBX 475.54. The company has a market capitalization of £1.00 billion, a price-to-earnings ratio of 2,194.74, a P/E/G ratio of 2.27 and a beta of 0.65.

Bytes Technology Group Cuts Dividend

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

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.