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

Bytes Technology Group plc (LON:BYIT)’s share price reached a new 52-week low during mid-day trading 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. The stock had previously closed at GBX 447.20 ($5.63).

Wall Street Analyst Weigh In

BYIT has been the topic of several recent research reports. Berenberg Bank reissued a “buy” rating and set a GBX 640 ($8.06) price target on shares of Bytes Technology Group in a research report on Tuesday, October 15th. Shore Capital reaffirmed a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Price Performance

The company has a market cap of £1.08 billion, a price-to-earnings ratio of 2,358.95, a PEG ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. The stock’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 firm also recently declared a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be given a dividend of GBX 3.10 ($0.04) per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a dividend yield of 0.65%. Bytes Technology Group’s dividend payout ratio is presently 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.