Bytes Technology Group (LON:BYIT) Hits New 52-Week Low – Time to Sell?

Shares of Bytes Technology Group plc (LON:BYIT) reached a new 52-week low during trading on Wednesday . The company traded as low as GBX 405 ($4.94) and last traded at GBX 405 ($4.94), with a volume of 327618 shares traded. The stock had previously closed at GBX 414.80 ($5.06).

Wall Street Analysts Forecast Growth

BYIT has been the topic of a number of recent analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 640 ($7.81) price target on shares of Bytes Technology Group in a research note on Tuesday, October 15th. Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Price Performance

The stock has a fifty day moving average of GBX 440.51 and a 200 day moving average of GBX 473.50. The stock has a market cap of £995.84 million, a price-to-earnings ratio of 2,175.79, a P/E/G ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.08 and a quick ratio of 0.98.

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.