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

Shares of Ocado Group plc (LON:OCDO) fell 9.8% during trading on Friday . The company traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 15,984,066 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 8,031,500 shares. The stock had previously closed at GBX 300 ($4.07).

Analysts Set New Price Targets

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

Ocado Group Stock Down 9.8%

The stock has a 50 day moving average price of GBX 318.95 and a 200 day moving average price of GBX 283.11. The stock has a market capitalization of £2.24 billion, a price-to-earnings 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.

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.