Bytes Technology Group (LON:BYIT) Earns “Buy” Rating from Berenberg Bank

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating restated by Berenberg Bank in a note issued to investors on Tuesday, LSE.Co.UK reports. They presently have a GBX 640 ($8.36) target price on the stock. Berenberg Bank’s price target would suggest a potential upside of 30.40% from the company’s previous close.

Separately, Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a report on Tuesday.

Bytes Technology Group Stock Performance

LON:BYIT traded up GBX 17 ($0.22) during trading hours on Tuesday, reaching GBX 490.80 ($6.41). The stock had a trading volume of 1,146,521 shares, compared to its average volume of 866,969. The stock has a market cap of £1.18 billion, a P/E ratio of 2,583.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The stock has a 50 day simple moving average of GBX 483.96 and a 200 day simple moving average of GBX 507.03. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08. Bytes Technology Group has a 12-month low of GBX 433.80 ($5.66) and a 12-month high of GBX 665 ($8.68).

Insider Buying and Selling at Bytes Technology Group

In related news, insider Sam Mudd bought 5,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of GBX 506 ($6.61) per share, for a total transaction of £25,300 ($33,037.35). Insiders own 9.51% of the company’s stock.

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.