Ocado Group (OTCMKTS:OCDDY) Shares Up 6.5% – Here’s Why

Ocado Group (OTCMKTS:OCDDY)’s stock price was up 6.5% during trading on Thursday. The company traded as high as $7.36 and last traded at $7.36. Approximately 2,356 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 9,659 shares. The stock had previously closed at $6.9116.

Analyst Upgrades and Downgrades

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

Ocado Group Stock Up 3.3%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.36 and a current ratio of 1.41. The business’s 50-day moving average price is $6.25 and its 200-day moving average price is $5.52.

About Ocado Group

Ocado Group plc is a United Kingdom-based technology company that develops systems for online grocery retail. Its business is centered on the Ocado Smart Platform, an end-to-end solution that combines e-commerce software, automated customer fulfillment centers, robotics, warehouse-management technology and delivery logistics.

The company provides grocery retailers with the technology and automation needed to operate online shopping services, including order processing, inventory management, warehouse automation and last-mile delivery capabilities.