Bytes Technology Group (LON:BYIT) Stock Price Down 0.7% – Time to Sell?

Shares of Bytes Technology Group plc (LON:BYIT) traded down 0.7% on Wednesday . The company traded as low as GBX 446.40 ($5.81) and last traded at GBX 446.40 ($5.81). 781,778 shares changed hands during trading, a decline of 9% from the average session volume of 859,470 shares. The stock had previously closed at GBX 449.60 ($5.85).

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Shore Capital reissued a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday, October 15th. Berenberg Bank reissued a “buy” rating and issued a GBX 640 ($8.33) target price on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Trading Down 0.7 %

The company has a fifty day simple moving average of GBX 483.09 and a two-hundred day simple moving average of GBX 504.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. The stock has a market capitalization of £1.08 billion, a P/E ratio of 2,349.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Bytes Technology Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be issued a GBX 3.10 ($0.04) dividend. The ex-dividend date of this dividend is 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.