Bytes Technology Group (LON:BYIT) Reaches New 1-Year Low – Time to Sell?

Bytes Technology Group plc (LON:BYIT)’s share price hit a new 52-week low on Thursday . The stock traded as low as GBX 415.80 ($5.23) and last traded at GBX 431.60 ($5.43), with a volume of 26631 shares trading hands. The stock had previously closed at GBX 434.60 ($5.46).

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 640 ($8.05) price target on shares of Bytes Technology Group in a report on Tuesday, October 15th. Shore Capital reaffirmed a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Trading Down 1.2 %

The firm has a market cap of £1.03 billion, a price-to-earnings ratio of 2,258.95, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company’s 50-day moving average price is GBX 462.26 and its 200-day moving average price is GBX 490.70. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50.

Bytes Technology Group Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were paid a GBX 3.10 ($0.04) dividend. This represents a yield of 0.65%. The ex-dividend date of this dividend was Thursday, November 7th. Bytes Technology Group’s dividend payout ratio is presently 4,736.84%.

Bytes Technology Group Company Profile

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.