Ocado Group (LON:OCDO) Trading Down 21.9% – Here’s What Happened

Ocado Group plc (LON:OCDO) shares were down 21.9% on Tuesday . The company traded as low as GBX 168.10 and last traded at GBX 170.15. Approximately 11,044,430 shares were traded 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 Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on shares of 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 stock presently has an average rating of “Buy” and an average target price of GBX 437.

Ocado Group Price Performance

The firm has a market cap of £1.49 billion, a price-to-earnings 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. The business’s 50-day simple moving average is GBX 232.90 and its two-hundred day simple moving average is GBX 268.71.

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.