Ocado Group (LON:OCDO) Stock Price Down 12.7% – Time to Sell?

Ocado Group plc (LON:OCDO) shares fell 12.7% on Friday . The company traded as low as GBX 261.20 ($3.54) and last traded at GBX 261.78 ($3.55). 32,389,299 shares changed hands during trading, an increase of 299% from the average session volume of 8,124,186 shares. The stock had previously closed at GBX 300 ($4.07).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 437.

Ocado Group Trading Down 9.8%

The company’s 50 day moving average price is GBX 318.95 and its 200 day moving average price is GBX 283.11. The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm has a market cap of £2.24 billion, a PE 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.