Ocado Group (LON:OCDO) Shares Down 2.8% – Here’s Why

Ocado Group plc (LON:OCDO)’s share price fell 2.8% during trading on Tuesday . The stock traded as low as GBX 209.99 and last traded at GBX 211.70. 1,728,056 shares changed hands during trading, a decline of 77% from the average session volume of 7,616,576 shares. The stock had previously closed at GBX 217.80.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on Ocado Group from GBX 400 to GBX 437 and gave the company an “overweight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 437.

Ocado Group Price Performance

The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm has a market capitalization of £1.55 billion, a P/E ratio of 3.99 and a beta of 1.85. The company’s 50 day moving average price is GBX 225.56 and its 200 day moving average price is GBX 266.89.

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.