company background image
BYTS

BYTE Acquisition NasdaqCM:BYTS Stock Report

Last Price

US$9.90

Market Cap

US$410.8m

7D

-0.2%

1Y

1.6%

Updated

05 Oct, 2022

Data

Company Financials
BYTS fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health3/6
Dividends0/6

BYTS Stock Overview

BYTE Acquisition Corp. does not have significant operations.

BYTE Acquisition Competitors

Price History & Performance

Summary of all time highs, changes and price drops for BYTE Acquisition
Historical stock prices
Current Share PriceUS$9.90
52 Week HighUS$9.92
52 Week LowUS$9.66
Beta0
1 Month Change0.41%
3 Month Change1.12%
1 Year Change1.64%
3 Year Changen/a
5 Year Changen/a
Change since IPO1.02%

Recent News & Updates

Shareholder Returns

BYTSUS Capital MarketsUS Market
7D-0.2%5.7%4.4%
1Y1.6%-20.7%-18.2%

Return vs Industry: BYTS exceeded the US Capital Markets industry which returned -20.7% over the past year.

Return vs Market: BYTS exceeded the US Market which returned -18.2% over the past year.

Price Volatility

Is BYTS's price volatile compared to industry and market?
BYTS volatility
BYTS Average Weekly Movement0.3%
Capital Markets Industry Average Movement0.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: BYTS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 0% a week.

Volatility Over Time: BYTS's weekly volatility (0%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2021n/aDanny Yaminhttps://bytespac.com

BYTE Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus its search for targets in the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, cloud computing, semiconductors, medical technology, artificial intelligence, and robotics.

BYTE Acquisition Fundamentals Summary

How do BYTE Acquisition's earnings and revenue compare to its market cap?
BYTS fundamental statistics
Market CapUS$410.77m
Earnings (TTM)US$18.14m
Revenue (TTM)n/a

22.6x

P/E Ratio

0.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BYTS income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other Expenses-US$18.14m
EarningsUS$18.14m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.44
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0.0%

How did BYTS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is BYTS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BYTS?

Other financial metrics that can be useful for relative valuation.

BYTS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does BYTS's PE Ratio compare to its peers?

BYTS PE Ratio vs Peers
The above table shows the PE ratio for BYTS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average44.7x
HCAR Healthcare Services Acquisition
24xn/aUS$411.9m
DTOC Digital Transformation Opportunities
50.8xn/aUS$409.8m
CLAA Colonnade Acquisition II
77.3xn/aUS$408.4m
PIAI Prime Impact Acquisition I
26.7xn/aUS$409.2m
BYTS BYTE Acquisition
22.6xn/aUS$410.8m

Price-To-Earnings vs Peers: BYTS is good value based on its Price-To-Earnings Ratio (22.6x) compared to the peer average (44.7x).


Price to Earnings Ratio vs Industry

How does BYTS's PE Ratio compare vs other companies in the US Capital Markets Industry?

Price-To-Earnings vs Industry: BYTS is good value based on its Price-To-Earnings Ratio (22.6x) compared to the US Capital Markets industry average (25.1x)


Price to Earnings Ratio vs Fair Ratio

What is BYTS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BYTS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BYTS's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of BYTS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate BYTS's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BYTS's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


Discover undervalued companies

Future Growth

How is BYTE Acquisition forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.8%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BYTE Acquisition has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Take a look at our analysis of BYTS’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has BYTE Acquisition performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.8%

Historical Diversified Financials annual earnings growth

Earnings and Revenue History

Quality Earnings: BYTS has high quality earnings.

Growing Profit Margin: Insufficient data to determine if BYTS's profit margins have improved over the past year.


Past Earnings Growth Analysis

Earnings Trend: Unable to establish if BYTS's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare BYTS's past year earnings growth to its 5-year average as it has been trading publicly for less than 3 years.

Earnings vs Industry: Insufficient data to determine if BYTS's earnings growth over the past year exceeded the Capital Markets industry average.


Return on Equity

High ROE: BYTS's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Discover strong past performing companies

Financial Health

How is BYTE Acquisition's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BYTS has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: BYTS has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: BYTS is debt free.

Reducing Debt: BYTS's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Debt Coverage: BYTS has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BYTS has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Discover healthy companies

Dividend

What is BYTE Acquisition current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

BYTE Acquisition Dividend Yield vs Market
How does BYTE Acquisition dividend yield compare to the market?
SegmentDividend Yield
Company (BYTE Acquisition)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Capital Markets)2.8%
Analyst forecast in 3 Years (BYTE Acquisition)n/a

Notable Dividend: Unable to evaluate BYTS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BYTS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BYTS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BYTS's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BYTS has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average board tenure


CEO

Danny Yamin (63 yo)

1.75yrs

Tenure

Mr. Danny Yamin serves as Chief Executive Officer and Director of BYTE Acquisition Corp. since January 2021. Mr. Yamin serves as a Member of Advisory Council at Skylake Capital. He serves as Partner at Kua...


Board Members

Experienced Board: BYTS's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of BYTS?
Owner TypeNumber of SharesOwnership Percentage
Hedge Funds2,312,5275.6%
Private Companies8,092,31319.5%
General Public9,039,25421.8%
Institutions22,047,47053.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 73.11% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
19.5%
Byte Holdings LP
8,092,313$80.1m0%no data
5.57%
Saba Capital Management, L.P.
2,312,527$22.9m48%0.31%
4.88%
Clal Financial Management Ltd
2,025,000$20.0m0%0.23%
4.23%
Macquarie Group, Ltd., Banking & Securities Investments
1,753,650$17.4m0%0.85%
3.85%
Millennium Management LLC
1,598,218$15.8m6.62%0.02%
3.49%
Taconic Capital Advisors L.P.
1,450,000$14.4m93.33%0.52%
3.15%
HSBC Global Asset Management (UK) Limited
1,307,380$12.9m325.33%0.01%
3.12%
Marshall Wace LLP
1,292,726$12.8m0%0.03%
2.89%
LMR Partners LLP
1,200,000$11.9m0%0.31%
2.77%
Covalis Capital LLP
1,150,000$11.4m0%2.65%
2.52%
Sculptor Capital Management, Inc.
1,046,503$10.4m-1.9%0.14%
2.41%
Linden Advisors LP
1,000,000$9.9m-50%0.6%
2.22%
Glazer Capital, LLC
920,032$9.1m25.06%0.24%
2.08%
Polygon Global Partners LLP
862,500$8.5m0%1.28%
1.81%
HBK Investments L.P.
750,310$7.4m0.04%0.67%
1.45%
Heights Capital Management, Inc.
603,013$6.0m0%0.4%
1.01%
UBS O'Connor LLC
418,176$4.1m0%0.1%
0.93%
BMO Asset Management Corp.
385,240$3.8m351.95%no data
0.91%
Shaolin Capital Management LLC
376,642$3.7m-36.32%0.18%
0.84%
Picton Mahoney Asset Management
350,000$3.5m0%0.11%
0.8%
Ghisallo Capital Management LLC
332,289$3.3m0%0.4%
0.71%
Castle Creek Arbitrage, LLC
293,558$2.9m0%0.21%
0.7%
Capstone Investment Advisors, LLC
289,200$2.9m0%0.16%
0.69%
Bank of America Corporation, Asset Management Arm
286,180$2.8m0%no data
0.57%
Magnetar Capital, LLC
237,371$2.3m2188.35%0.03%

Company Information

BYTE Acquisition Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: BYTE Acquisition Corp.
  • Ticker: BYTS
  • Exchange: NasdaqCM
  • Founded: 2021
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$410.766m
  • Shares outstanding: 41.49m
  • Website: https://bytespac.com

Location

  • BYTE Acquisition Corp.
  • 445 Park Avenue
  • 9th Floor
  • New York
  • New York
  • 10022
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BYTS.UNasdaqCM (Nasdaq Capital Market)UnitsUSUSDMar 2021
BYTSNasdaqCM (Nasdaq Capital Market)YesClass A Ordinary SharesUSUSDMay 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.