Ocado Group (LON:OCDO) Shares Down 12.7% - What's Next?

Key Points

• Ocado Group's shares fell by 12.7%, trading at GBX 261.78 ($3.55) after closing at GBX 300 ($4.07) the previous day.
• Despite the drop, JPMorgan Chase & Co. raised their price target for Ocado shares from GBX 400 to GBX 437, maintaining an "overweight" rating.
• Ocado Group holds a 50% share of Ocado Retail Ltd in a joint venture with Marks & Spencer, focusing on online grocery fulfillment technologies.

Shares of Ocado Group plc (LON:OCDO - Get Free Report) dropped 12.7% during trading on Friday . The stock traded as low as GBX 261.20 ($3.57) and last traded at GBX 261.78 ($3.57). Approximately 32,389,299 shares changed hands during trading, an increase of 299% from the average daily volume of 8,124,186 shares. The stock had previously closed at GBX 300 ($4.10).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 437.

Ocado Group Price Performance

The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm's 50 day moving average is GBX 318.72 and its two-hundred day moving average is GBX 282.57. The firm has a market capitalization of £1.87 billion, a P/E ratio of 479.79 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.