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Bytes Technology Group Plc ( (GB:BYIT) ) has issued an announcement.
Bytes Technology Group Plc announced the repurchase of 100,000 ordinary shares as part of its Share Buyback Programme. This move, executed on the London Stock Exchange, is aimed at reducing the company’s share capital and enhancing shareholder value by canceling the purchased shares, which will adjust the total number of shares in issue to 242,573,163.
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 Main Market of the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange. It operates in the technology sector, focusing on providing IT products and services.
Average Trading Volume: 1,119,273
Technical Sentiment Signal: Sell
Current Market Cap: £946.4M
For a thorough assessment of BYIT stock, go to TipRanks’ Stock Analysis page.