Ocado Group (LON:OCDO) Shares Down 17.4% – Time to Sell?

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price 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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 437.

Ocado Group Price Performance

The firm has a market cap of £1.49 billion, a PE ratio of 3.83 and a beta of 1.85. The firm’s fifty day simple moving average is GBX 232.90 and its two-hundred day simple moving average is GBX 268.71. 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.