Ocado Group (LON:OCDO) Trading Down 9.8% – Here’s Why

Shares of Ocado Group plc (LON:OCDO) traded down 9.8% during mid-day trading on Saturday . The stock traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 15,986,102 shares were traded during mid-day trading, an increase of 99% from the average session volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.07).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 437.

Ocado Group Price Performance

The stock has a fifty day simple moving average of GBX 318.95 and a two-hundred day simple moving average of GBX 283.18. The company has a market cap of £2.24 billion, a PE ratio of 575.99 and a beta of 1.85. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16.

Ocado Group Company Profile

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.