Ocado Group (LON:OCDO) Stock Price Down 21.9% – Here’s Why

Ocado Group plc (LON:OCDO)’s stock price dropped 21.9% on Tuesday . The stock traded as low as GBX 168.10 and last traded at GBX 170.15. Approximately 11,044,430 shares traded hands during trading, an increase of 44% from the average daily volume of 7,658,167 shares. The stock had previously closed at GBX 217.80.

Analyst Upgrades and Downgrades

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

Ocado Group Trading Down 17.4%

The firm has a 50-day moving average of GBX 232.90 and a two-hundred day moving average of GBX 268.71. The firm has a market capitalization of £1.49 billion, a P/E ratio of 3.83 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.