Bytes Technology Group (LON:BYIT) Shares Up 15.9% – Still a Buy?

Posted by Linda Flegge on Mar 18th, 2025

Bytes Technology Group plc (LON:BYIT – Get Free Report) rose 15.9% on Tuesday . The stock traded as high as GBX 487.60 ($6.33) and last traded at GBX 480.09 ($6.24). Approximately 6,504,354 shares traded hands during mid-day trading, an increase of 357% from the average daily volume of 1,423,970 shares. The stock had previously closed at GBX 414.40 ($5.38).

Wall Street Analyst Weigh In

Separately, Shore Capital reiterated a “buy” rating on shares of Bytes Technology Group in a report on Friday, January 31st.

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Bytes Technology Group Stock Performance

The company has a market cap of £1.17 billion, a P/E ratio of 22.37, a PEG ratio of 2.27 and a beta of 0.65. The firm has a 50 day moving average of GBX 435.31 and a 200-day moving average of GBX 454.59. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling

In other news, insider Ross Paterson acquired 2,800 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The shares were bought at an average price of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,529.29). 9.51% of the stock is owned by insiders.

About Bytes Technology Group

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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.