Bytes Technology Group (LON:BYIT) Sets New 52-Week Low – Should You Sell?

Bytes Technology Group plc (LON:BYIT)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 409.80 ($5.07) and last traded at GBX 414.60 ($5.12), with a volume of 103527 shares. The stock had previously closed at GBX 416.20 ($5.14).

Wall Street Analyst Weigh In

BYIT has been the subject of a number of recent research reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 640 ($7.91) target price on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Shore Capital reiterated a “buy” rating on shares of Bytes Technology Group in a report on Tuesday, October 15th.

Bytes Technology Group Stock Down 0.7 %

The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.98 and a current ratio of 1.08. The business has a 50 day simple moving average of GBX 444.18 and a 200-day simple moving average of GBX 477.57. The firm has a market capitalization of £995.84 million, a price-to-earnings ratio of 2,175.79, a P/E/G ratio of 2.27 and a beta of 0.65.

Bytes Technology Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 7th were given a dividend of GBX 3.10 ($0.04) per share. This represents a yield of 0.65%. The ex-dividend date of this dividend was Thursday, November 7th. Bytes Technology Group’s payout ratio is currently 4,736.84%.

Bytes Technology Group Company Profile

With a 40-year track record, Bytes Technology Group is one of the UK’s leading providers of software, security and cloud services. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware 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.