Ocado Group (OTCMKTS:OCDDY) Stock Short Interest Declines 66.0%

Ocado Group (OTCMKTS:OCDDY) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 1,992 shares, a decrease of 66.0% from the September 30th total of 5,862 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 15,150 shares, the short-interest ratio is currently 0.1 days.

Ocado Group Trading Down 2.0%

OCDDY stock traded down $0.17 during midday trading on Friday, hitting $8.47. 1,140 shares of the company traded hands, compared to its average volume of 9,328. Ocado Group has a twelve month low of $3.96 and a twelve month high of $9.44. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.87. The business has a 50 day simple moving average of $6.94 and a 200-day simple moving average of $5.88.

Analysts Set New Price Targets

Separately, Berenberg Bank upgraded Ocado Group to a “strong-buy” rating in a report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, Ocado Group currently has a consensus rating of “Strong Buy”.

About Ocado Group

Ocado Group plc is a United Kingdom-based technology company that develops systems for online grocery retail and logistics. Its business is centered on the Ocado Smart Platform, an end-to-end technology solution designed to support online grocery operations, including customer ordering, automated warehouse fulfillment, inventory management and delivery logistics.

The company provides grocery retailers with automated customer fulfillment centers, robotics, software and associated services.