Ocado Group (LON:OCDO) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Ocado Group plc's stock price recently exceeded its 200-day moving average, indicating positive momentum, with the last traded price at GBX 305.35 ($4.15).
• JPMorgan Chase & Co. upgraded Ocado Group's price target from GBX 400 to GBX 437 and maintained an "overweight" rating for the stock.
• The company has a market capitalization of £2.23 billion and holds a 50% share in Ocado Retail Ltd in a joint venture with Marks & Spencer.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 283.82 ($3.85) and traded as high as GBX 316.40 ($4.30). Ocado Group shares last traded at GBX 305.35 ($4.15), with a volume of 3,220,764 shares trading hands.

Analyst Upgrades and Downgrades

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

Ocado Group Stock Performance

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 stock's 50 day moving average price is GBX 318.45 and its 200 day moving average price is GBX 283.82. The company has a market capitalization of £2.23 billion, a P/E ratio of 573.62 and a beta of 1.85.

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.

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