Bytes Technology Group (LON:BYIT) Sets New 12-Month Low – Should You Sell?

Bytes Technology Group plc (LON:BYIT)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 440 ($5.58) and last traded at GBX 443.30 ($5.62), with a volume of 703491 shares changing hands. The stock had previously closed at GBX 447.20 ($5.67).

Analysts Set New Price Targets

BYIT has been the subject of a number of analyst reports. 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 issued a GBX 640 ($8.11) price target on shares of Bytes Technology Group in a report on Tuesday, October 15th.

Bytes Technology Group Stock Performance

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 stock has a market cap of £1.07 billion, a PE ratio of 2,353.68, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The firm has a fifty day moving average price of GBX 480.83 and a 200 day moving average price of GBX 502.65.

Bytes Technology Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be issued 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 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.