Ocado Group (LON:OCDO) Trading Down 17.4% – What’s Next?

Ocado Group plc (LON:OCDO)’s share price dropped 17.4% during trading on Tuesday . The company traded as low as GBX 166 and last traded at GBX 179.90. Approximately 546,520,313 shares changed hands 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 price objective 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, According to data from MarketBeat.com, the company 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 stock’s 50-day moving average price is GBX 232.90 and its 200 day moving average price 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.