Ocado Group (LON:OCDO) Shares Down 2.8% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Ocado Group Price Performance

The stock has a market capitalization of £1.54 billion, a price-to-earnings ratio of 3.97 and a beta of 1.85. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35. The business’s 50 day simple moving average is GBX 227.91 and its 200-day simple moving average is GBX 267.45.

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.