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Bytes Technology Group Plc ( (GB:BYIT) ) has issued an update.
Bytes Technology Group Plc has executed a share buyback program, purchasing 100,000 of its ordinary shares on the London Stock Exchange at an average price of 400.5064 GBP per share. This move is part of their strategy to enhance shareholder value by reducing the number of shares in circulation, which will result in a total of 242,411,605 ordinary shares remaining in issue.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £407.00 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 Outperform.
Bytes Technology Group’s strong financial performance and strategic corporate actions are significant positives, contributing to a robust overall score. However, technical indicators suggest caution due to bearish momentum. The stock’s reasonable valuation and attractive dividend yield further support its investment appeal.
To see Spark’s full report on GB:BYIT stock, click here.
More about Bytes Technology Group Plc
Bytes Technology Group Plc is a company listed on the London Stock Exchange and the Johannesburg Stock Exchange, operating in the technology sector. It focuses on providing IT solutions and services, catering to a diverse range of market needs.
Average Trading Volume: 1,144,781
Technical Sentiment Signal: Sell
Current Market Cap: £977.3M
For detailed information about BYIT stock, go to TipRanks’ Stock Analysis page.