Bytes Technology Group (LON:BYIT) Trading Up 19.6% – Should You Buy?

Posted by Logan Wallace on Mar 18th, 2025

Bytes Technology Group plc (LON:BYIT – Get Free Report) shares shot up 19.6% on Tuesday . The stock traded as high as GBX 496.60 ($6.45) and last traded at GBX 495.60 ($6.44). 6,850,618 shares were traded during trading, an increase of 379% from the average session volume of 1,430,283 shares. The stock had previously closed at GBX 414.40 ($5.38).

Analysts Set New Price Targets

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

Read Our Latest Research Report on Bytes Technology Group

Bytes Technology Group Trading Up 19.6 %

The firm has a market capitalization of £1.20 billion, a PE ratio of 23.03, a PEG ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is GBX 435.31 and its 200 day simple moving average is GBX 454.59.

Insider Buying and Selling at Bytes Technology Group

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

About Bytes Technology Group

(Get Free Report)

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.