Bytes Technology Group (LON:BYIT) Trading Up 20.3% – Time to Buy?

Bytes Technology Group plc (LON:BYIT)’s share price was up 20.3% during trading on Tuesday . The company traded as high as GBX 498.80 ($6.48) and last traded at GBX 498.60 ($6.48). Approximately 7,128,283 shares changed hands during mid-day trading, an increase of 397% from the average daily volume of 1,435,524 shares. The stock had previously closed at GBX 414.40 ($5.38).

Analyst Ratings Changes

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

Bytes Technology Group Stock Up 20.3 %

The firm has a market cap of £1.21 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of GBX 435.31 and a 200-day moving average price of GBX 454.59.

Insider Transactions at Bytes Technology Group

In related news, insider Ross Paterson acquired 2,800 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average price of GBX 427 ($5.55) per share, for a total transaction of £11,956 ($15,529.29). Corporate insiders own 9.51% of the company’s stock.

About Bytes Technology Group

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.