BYTE Acquisition Corp. [BYTS] is 2.66% higher this YTD. Is it still time to buy?

BYTE Acquisition Corp. [NASDAQ: BYTS] plunged by $0.0 during the normal trading session on Thursday and reaching a high of $10.06 during the day while it closed the day at $10.05. The company report on December 7, 2022 that BYTE Acquisition Corp. Announces Postponement of Extraordinary General Meeting Date.

Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.


BYTE Acquisition Corp. (Nasdaq: BYTS) (the “Company”), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced that the extraordinary general meeting of its shareholders (the “Extraordinary General Meeting”) originally scheduled for Tuesday, December 20, 2022, is being postponed to a later date to be subsequently announced by press release. The Company expects to hold the meeting closer to the deadline by which the Company must complete a business combination, which is March 23, 2023.

The Company plans to continue to solicit proxies from shareholders during the period prior to the Extraordinary General Meeting. Only the holders of the Company’s Class A ordinary shares and Class B ordinary shares as of the close of business on November 17, 2022, the record date for the Extraordinary General Meeting, are entitled to vote at the Extraordinary General Meeting.

BYTE Acquisition Corp. stock has also gained 0.20% of its value over the past 7 days. However, BYTS stock has inclined by 2.13% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.40% and gained 2.66% year-on date.

The market cap for BYTS stock reached $416.57 million, with 41.49 million shares outstanding and 33.40 million shares in the current float. Compared to the average trading volume of 109.36K shares, BYTS reached a trading volume of 4919566 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BYTE Acquisition Corp. [BYTS]:

The Average True Range (ATR) for BYTE Acquisition Corp. is set at 0.01 The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.03.

BYTS stock trade performance evaluation

BYTE Acquisition Corp. [BYTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.20. With this latest performance, BYTS shares gained by 0.70% in over the last four-week period, additionally plugging by 3.40% over the last 6 months – not to mention a rise of 3.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BYTS stock in for the last two-week period is set at 82.90, with the RSI for the last a single of trading hit 88.03, and the three-weeks RSI is set at 77.82 for BYTE Acquisition Corp. [BYTS]. The present Moving Average for the last 50 days of trading for this stock 9.96, while it was recorded at 10.04 for the last single week of trading, and 9.81 for the last 200 days.

BYTE Acquisition Corp. [BYTS]: An insightful look at the core fundamentals

BYTE Acquisition Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.50.

BYTE Acquisition Corp. [BYTS]: Insider Ownership positions

14 institutional holders increased their position in BYTE Acquisition Corp. [NASDAQ:BYTS] by around 5,172,300 shares. Additionally, 9 investors decreased positions by around 1,488,431 shares, while 34 investors held positions by with 21,609,014 shares. The mentioned changes placed institutional holdings at 28,269,745 shares, according to the latest SEC report filing. BYTS stock had 5 new institutional investments in for a total of 1,566,024 shares, while 3 institutional investors sold positions of 899,950 shares during the same period.


Please enter your comment!
Please enter your name here