Ocado Group (LON:OCDO) Trading Down 21.9% – Should You Sell?

Ocado Group plc (LON:OCDO)’s stock price dropped 21.9% on Tuesday . The stock traded as low as GBX 168.10 and last traded at GBX 170.15. Approximately 11,044,430 shares traded hands during trading, an increase of 44% from the average daily volume of 7,658,167 shares. The stock had previously closed at GBX 217.80.

Wall Street Analyst Weigh In

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

Ocado Group Stock Performance

The company has a market cap of £1.55 billion, a price-to-earnings ratio of 3.99 and a beta of 1.85. 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 50 day simple moving average of GBX 225.56 and a 200-day simple moving average of GBX 266.89.

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.