Bytes Technology Group (LON:BYIT) Hits New 1-Year Low – What’s Next?

Bytes Technology Group plc (LON:BYIT)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 285.80 and last traded at GBX 293.63, with a volume of 631039 shares trading hands. The stock had previously closed at GBX 296.50.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded shares of Bytes Technology Group to a “hold” rating and reduced their price target for the company from GBX 447 to GBX 400 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 461.60.

Bytes Technology Group Stock Performance

The company has a market cap of £693.97 million, a PE ratio of 13.73, a PEG ratio of 2.27 and a beta of 0.65. The business’s 50-day moving average is GBX 342.87 and its 200 day moving average is GBX 366.26. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09.

Bytes Technology Group Company Profile

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI 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. This has resulted in our long track record of strong financial performance.