Ocado Group (LON:OCDO) Shares Down 17.4% – Here’s What Happened

Ocado Group plc (LON:OCDO)’s share price traded down 17.4% during mid-day trading on Tuesday . The company traded as low as GBX 166 and last traded at GBX 179.90. 546,520,313 shares were traded during mid-day trading, an increase of 5,339% from the average session volume of 10,048,685 shares. The stock had previously closed at GBX 217.80.

Analysts Set New Price Targets

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

Ocado Group Stock Performance

The stock’s 50 day moving average price is GBX 232.90 and its two-hundred day moving average price is GBX 268.71. The firm has a market capitalization of £1.49 billion, a PE ratio of 3.83 and a beta of 1.85. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16.

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.