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

Ocado Group plc (LON:OCDO)’s stock price fell 17.4% during trading on Tuesday . The stock traded as low as GBX 166 and last traded at GBX 179.90. 546,520,313 shares changed hands 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.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on Ocado Group from GBX 400 to GBX 437 and gave the stock 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 currently has an average rating of “Buy” and a consensus price target of GBX 437.

Ocado Group Price Performance

The stock has a 50 day moving average of GBX 232.90 and a two-hundred day moving average of GBX 268.71. 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 stock has a market cap of £1.49 billion, a PE ratio of 3.83 and a beta of 1.85.

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.