Bytes Technology Group (LON:BYIT) Given “Buy” Rating at Shore Capital

Shore Capital reaffirmed their buy rating on shares of Bytes Technology Group (LON:BYIT) in a report issued on Tuesday, Marketbeat Ratings reports.

Bytes Technology Group Stock Performance

Shares of LON:BYIT opened at GBX 485 ($6.33) on Tuesday. The company’s 50 day simple moving average is GBX 484.42 and its 200 day simple moving average is GBX 506.76. 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 has a 1 year low of GBX 433.80 ($5.66) and a 1 year high of GBX 665 ($8.68). The stock has a market capitalization of £1.17 billion, a price-to-earnings ratio of 2,552.63, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Bytes Technology Group Cuts Dividend

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

Insider Transactions at Bytes Technology Group

In related news, insider Sam Mudd acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of GBX 506 ($6.61) per share, with a total value of £25,300 ($33,037.35). Company insiders own 9.51% of the company’s stock.

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.