Ocado Group (LON:OCDO) Shares Down 10.5% – Here’s What Happened

Shares of Ocado Group plc (LON:OCDO) traded down 10.5% during trading on Friday . The company traded as low as GBX 264.70 ($3.59) and last traded at GBX 268.50 ($3.64). 31,407,805 shares traded hands during mid-day trading, an increase of 287% from the average session volume of 8,118,640 shares. The stock had previously closed at GBX 300 ($4.07).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on Ocado Group from GBX 400 to GBX 437 and gave the company an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 437.

Ocado Group Price Performance

The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35. The company has a 50-day moving average of GBX 318.95 and a 200-day moving average of GBX 283.11. The firm has a market capitalization of £2.24 billion, a price-to-earnings ratio of 575.99 and a beta of 1.85.

About Ocado Group

Ocado Group is a UK based technology company that provides end-to-end online grocery fulfilment solutions, known as the Ocado Smart Platform, to some of the world’s largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. OSP comprises access to Ocado’s physical infrastructure solutions, running highly efficient warehouse operations for the single pick of products, together with the entire end-to-end proprietary software applications required to operate a world class online grocery business.