Ocado Group (OTCMKTS:OCDDY) Stock Short Interest Falls 52.1%

Ocado Group (OTCMKTS:OCDDY) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 5,862 shares, a decline of 52.1% from the September 15th total of 12,229 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 18,912 shares, the days-to-cover ratio is presently 0.3 days.

Ocado Group Stock Performance

Shares of Ocado Group stock opened at $7.79 on Thursday. Ocado Group has a 1-year low of $3.96 and a 1-year high of $8.01. The company’s fifty day simple moving average is $6.38 and its 200-day simple moving average is $5.58. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.87.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised shares of Ocado Group to a “strong-buy” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Ocado Group Company Profile

Ocado Group plc is a United Kingdom-based technology company that develops systems for online grocery retail. Its business is centered on the Ocado Smart Platform, an end-to-end solution that combines e-commerce software, automated customer fulfillment centers, robotics, warehouse-management technology and delivery logistics.

The company provides grocery retailers with the technology and automation needed to operate online shopping services, including order processing, inventory management, warehouse automation and last-mile delivery capabilities.