Ocado Group (LON:OCDO) Shares Down 17.4% – Here’s What Happened

Ocado Group plc (LON:OCDO) traded down 17.4% on Wednesday . The company traded as low as GBX 166 and last traded at GBX 179.90. 546,520,313 shares were traded during trading, an increase of 5,339% from the average session volume of 10,048,685 shares. The stock had previously closed at GBX 217.80.

Analysts Set New Price Targets

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

Ocado Group Stock Down 2.4%

The company has a market capitalization of £1.45 billion, a PE ratio of 3.74 and a beta of 1.85. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35. The company’s 50-day moving average is GBX 230.36 and its 200 day moving average is GBX 268.03.

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.