Bytes Technology Group (LON:BYIT) Stock Price Down 5.4% – Here’s What Happened

Shares of Bytes Technology Group plc (LON:BYIT) dropped 5.4% during trading on Thursday . The stock traded as low as GBX 465.40 ($6.09) and last traded at GBX 479 ($6.27). Approximately 1,289,027 shares changed hands during trading, an increase of 52% from the average daily volume of 847,072 shares. The stock had previously closed at GBX 506.50 ($6.63).

Analyst Ratings Changes

Separately, Shore Capital reiterated a “house stock” rating on shares of Bytes Technology Group in a research report on Tuesday.

Bytes Technology Group Stock Performance

The stock has a market cap of £1.18 billion, a price-to-earnings ratio of 2,568.42, a P/E/G ratio of 2.27 and a beta of 0.65. The company’s fifty day simple moving average is GBX 483.36 and its two-hundred day simple moving average is GBX 507.51. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.08 and a quick ratio of 0.98.

Insider Transactions at Bytes Technology Group

In related news, insider Sam Mudd acquired 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of GBX 506 ($6.62) per share, with a total value of £25,300 ($33,110.85). In other Bytes Technology Group news, insider Andrew Holden sold 5,169 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of GBX 496 ($6.49), for a total value of £25,638.24 ($33,553.51). Also, insider Sam Mudd acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of GBX 506 ($6.62) per share, with a total value of £25,300 ($33,110.85). 9.51% of the stock is currently owned by insiders.

About Bytes Technology Group

Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.