Ocado Group (LON:OCDO) Stock Price Up 9.2% – What’s Next?

Shares of Ocado Group plc (LON:OCDO) rose 9.2% during mid-day trading on Wednesday. The stock traded as high as GBX 286.60 and last traded at GBX 286.60. Approximately 4,189,000 shares traded hands during trading, a decline of 79% from the average daily volume of 19,964,836 shares. The stock had previously closed at GBX 262.40.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 300.

Ocado Group Stock Performance

The stock has a market cap of £2.56 billion, a price-to-earnings ratio of -10.10 and a beta of 2.41. The firm’s 50-day moving average is GBX 232.86 and its two-hundred day moving average is GBX 205.94. The company has a current ratio of 1.41, a quick ratio of 2.81 and a debt-to-equity ratio of 110.64.

Ocado Group (LON:OCDO) last posted its quarterly earnings data on Thursday, July 16th. The company reported GBX (3.90) EPS for the quarter. Ocado Group had a negative return on equity of 15.94% and a negative net margin of 14.29%.

Ocado Group Company Profile

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.