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Bytes Technology Group Plc ( (GB:BYIT) ) just unveiled an announcement.
Bytes Technology Group Plc has executed a share buyback transaction, purchasing 115,000 of its ordinary shares at an average price of 346.74 GBP per share. This move, part of a previously announced Buyback Programme, will result in the cancellation of the acquired shares, reducing the total number of shares in issue to 236,433,629, which may impact shareholder value and market perception.
The most recent analyst rating on (GB:BYIT) stock is a Hold with a £386.00 price target. To see the full list of analyst forecasts on Bytes Technology Group Plc stock, see the GB:BYIT Stock Forecast page.
Spark’s Take on GB:BYIT Stock
According to Spark, TipRanks’ AI Analyst, GB:BYIT is a Neutral.
Bytes Technology Group’s overall stock score is driven by strong financial performance and a fair valuation, offset by bearish technical indicators. The company’s robust profitability and attractive dividend yield are significant strengths, while the current negative market momentum presents a risk.
To see Spark’s full report on GB:BYIT stock, click here.
More about Bytes Technology Group Plc
Bytes Technology Group Plc operates within the technology sector, primarily focusing on providing IT solutions and services. The company is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, indicating a market focus that spans both the UK and South Africa.
Average Trading Volume: 1,018,963
Technical Sentiment Signal: Sell
Current Market Cap: £815.1M
Learn more about BYIT stock on TipRanks’ Stock Analysis page.