Bytes Technology Group (LON:BYIT) Shares Down 1.5%

Bytes Technology Group plc (LON:BYIT) shares fell 1.5% on Tuesday . The stock traded as low as GBX 488.20 ($6.13) and last traded at GBX 488.20 ($6.13). 366,432 shares traded hands during trading, a decline of 49% from the average session volume of 712,822 shares. The stock had previously closed at GBX 495.80 ($6.23).

Analysts Set New Price Targets

Separately, Panmure Gordon initiated coverage on Bytes Technology Group in a report on Thursday, February 22nd. They issued a “hold” rating and a GBX 650 ($8.16) price objective for the company.

Bytes Technology Group Stock Down 1.5 %

The firm has a fifty day simple moving average of GBX 522.28 and a 200-day simple moving average of GBX 553.98. The firm has a market cap of £1.17 billion, a price-to-earnings ratio of 2,712.22, a P/E/G ratio of 2.27 and a beta of 0.69. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.02.

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.