Bytes Technology Group (LON:BYIT) Reaches New 12-Month Low – What’s Next?

Bytes Technology Group plc (LON:BYIT)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as GBX 441.52 ($5.75) and last traded at GBX 457 ($5.95), with a volume of 486558 shares changing hands. The stock had previously closed at GBX 446.40 ($5.81).

Analyst Ratings Changes

Several analysts have weighed in on BYIT shares. Berenberg Bank reissued a “buy” rating and set a GBX 640 ($8.33) target price on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Shore Capital restated a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Stock Up 2.4 %

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 firm has a market cap of £1.10 billion, a PE ratio of 2,367.91, a PEG ratio of 2.27 and a beta of 0.65. The business’s 50 day moving average price is GBX 482.57 and its 200 day moving average price is GBX 504.44.

Bytes Technology Group Cuts Dividend

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

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.