Ricardo (LON:RCDO) Shares Down 25% – Time to Sell?

Ricardo plc (LON:RCDO)’s share price dropped 25% during trading on Thursday . The stock traded as low as GBX 260 ($3.24) and last traded at GBX 264 ($3.29). Approximately 4,412,265 shares changed hands during trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.38).

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RCDO shares. Shore Capital reiterated a “sell” rating on shares of Ricardo in a research report on Thursday. Berenberg Bank reissued a “buy” rating and set a GBX 730 ($9.09) target price on shares of Ricardo in a research note on Tuesday, December 17th.

Ricardo Price Performance

The company’s 50-day moving average price is GBX 403.19 and its 200-day moving average price is GBX 444.27. The company has a quick ratio of 1.57, a current ratio of 1.86 and a debt-to-equity ratio of 79.12. The firm has a market cap of £164.23 million, a price-to-earnings ratio of 26,400.00 and a beta of 0.58.

About Ricardo

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility.