Bytes Technology Group (LON:BYIT) Trading Up 15.9% – Time to Buy?

Shares of Bytes Technology Group plc (LON:BYIT) were up 15.9% during mid-day trading 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 changed hands during 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).

Analyst Ratings Changes

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

Bytes Technology Group Stock Up 16.2 %

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 market capitalization of £1.17 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.27 and a beta of 0.65. The stock has a fifty day moving average of GBX 435.31 and a 200-day moving average of GBX 454.59.

Insider Buying and Selling

In other Bytes Technology Group news, insider Ross Paterson bought 2,800 shares of the firm’s stock in a transaction dated Monday, January 20th. The stock was acquired 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.

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.