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

Ocado Group plc (LON:OCDO) dropped 17.4% 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.

Wall Street Analysts Forecast Growth

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

Ocado Group Stock Performance

The company has a quick ratio of 2.82, a current ratio of 2.35 and a debt-to-equity ratio of 144.16. The company has a 50 day moving average of GBX 230.36 and a 200 day moving average of GBX 268.03. The firm has a market cap of £1.49 billion, a price-to-earnings 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.