Ocado Group (LON:OCDO) Stock Price Down 10.6% – Here’s Why

Ocado Group plc (LON:OCDO)’s stock price dropped 10.6% on Friday . The company traded as low as GBX 266.50 ($3.62) and last traded at GBX 268.26 ($3.64). Approximately 30,272,717 shares changed hands during trading, an increase of 273% from the average daily volume of 8,112,228 shares. The stock had previously closed at GBX 300 ($4.07).

Analyst Upgrades and Downgrades

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

Ocado Group Price Performance

The stock has a market capitalization of £2.24 billion, a P/E ratio of 575.99 and a beta of 1.85. The business has a fifty day simple moving average of GBX 318.95 and a 200-day simple moving average of GBX 283.11. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35.

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.