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

Shares of Ocado Group plc (LON:OCDO) dropped 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). Approximately 15,986,102 shares were traded during trading, an increase of 99% from the average daily volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.07).

Wall Street Analyst Weigh In

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

Ocado Group Price Performance

The company’s fifty day moving average price is GBX 318.95 and its 200 day moving average price is GBX 283.18. The company has a market capitalization of £2.24 billion, a P/E ratio of 575.99 and a beta of 1.85. The company has a quick ratio of 2.82, a current ratio of 2.35 and a debt-to-equity ratio of 144.16.

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.