Bytes Technology Group (LON:BYIT) Hits New 1-Year Low – Should You Sell?

Shares of Bytes Technology Group plc (LON:BYIT) reached a new 52-week low on Tuesday . The company traded as low as GBX 440 ($5.54) and last traded at GBX 443.30 ($5.58), with a volume of 703491 shares traded. The stock had previously closed at GBX 447.20 ($5.63).

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BYIT shares. Shore Capital restated a “buy” rating on shares of Bytes Technology Group in a research note on Tuesday, October 15th. Berenberg Bank restated a “buy” rating and set a GBX 640 ($8.06) target price on shares of Bytes Technology Group in a research note on Tuesday, October 15th.

Bytes Technology Group Price Performance

The company has a market capitalization of £1.08 billion, a PE ratio of 2,358.95, 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 current ratio of 1.08 and a quick ratio of 0.98. The company’s 50 day simple moving average is GBX 480.38 and its 200 day simple moving average is GBX 501.96.

Bytes Technology Group Cuts Dividend

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

Bytes Technology Group Company Profile

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.