Bytes Technology Group (LON:BYIT) Stock Price Down 1.2% – What’s Next?

Bytes Technology Group plc (LON:BYIT) shares fell 1.2% during mid-day trading on Tuesday . The company traded as low as GBX 454.60 ($5.81) and last traded at GBX 454.60 ($5.81). 217,735 shares traded hands during trading, a decline of 73% from the average session volume of 816,233 shares. The stock had previously closed at GBX 460.20 ($5.88).

Analyst Upgrades and Downgrades

BYIT has been the topic of a number of recent research reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 640 ($8.18) target price on shares of Bytes Technology Group in a report on Tuesday, October 15th. Shore Capital restated 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 stock has a market capitalization of £1.10 billion, a PE ratio of 2,392.63, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08. The business’s 50-day moving average is GBX 469.05 and its two-hundred day moving average is GBX 495.91.

Bytes Technology Group Cuts Dividend

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

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.