Bytes Technology Group (LON:BYIT) Reaches New 12-Month Low – Should You Sell?

Bytes Technology Group plc (LON:BYIT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 404 ($5.24) and last traded at GBX 407.80 ($5.29), with a volume of 340017 shares traded. The stock had previously closed at GBX 410 ($5.32).

Analyst Upgrades and Downgrades

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

Bytes Technology Group Stock Performance

The business’s 50-day moving average price is GBX 436.19 and its 200-day moving average price is GBX 455.93. The stock has a market cap of £987.57 million, a P/E ratio of 18.96, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09.

Insiders Place Their Bets

In related news, insider Ross Paterson bought 2,800 shares of the business’s stock in a transaction that occurred on Monday, January 20th. The stock was bought at an average cost of GBX 427 ($5.54) per share, with a total value of £11,956 ($15,505.12). Company 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.