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

Bytes Technology Group plc (LON:BYIT)’s share price 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. The stock had previously closed at GBX 416.20 ($5.08).

Wall Street Analyst Weigh In

BYIT has been the subject of several recent research reports. Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a report on Tuesday, October 15th. Berenberg Bank reiterated a “buy” rating and set a GBX 640 ($7.81) price objective on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Stock Performance

The company has a market cap of £1.00 billion, a PE ratio of 2,194.74, 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 business’s 50 day moving average is GBX 442.47 and its two-hundred day moving average is GBX 475.54.

Bytes Technology Group Cuts Dividend

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

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.