Bytes Technology Group (LON:BYIT) Trading Up 14.4% – Should You Buy?

Bytes Technology Group plc (LON:BYIT) shares rose 14.4% on Tuesday . The stock traded as high as GBX 487.60 ($6.33) and last traded at GBX 474 ($6.16). Approximately 6,013,226 shares were traded during trading, an increase of 325% from the average daily volume of 1,414,875 shares. The stock had previously closed at GBX 414.40 ($5.38).

Wall Street Analyst Weigh In

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

Bytes Technology Group Stock Performance

The business has a 50-day moving average of GBX 435.31 and a 200 day moving average of GBX 454.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. The company has a market cap of £1.15 billion, a PE ratio of 22.07, a PEG ratio of 2.27 and a beta of 0.65.

Insider Activity

In other Bytes Technology Group news, insider Ross Paterson acquired 2,800 shares of the business’s stock in a transaction dated Monday, January 20th. The stock was purchased at an average price of GBX 427 ($5.55) per share, with a total value of £11,956 ($15,529.29). Insiders own 9.51% of the company’s stock.

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.