Ocado Group (LON:OCDO) Shares Down 12.7% - Should You Sell?

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.

Ocado Group plc (LON:OCDO - Get Free Report)'s share price dropped 12.7% on Friday . The company traded as low as GBX 261.20 ($3.55) and last traded at GBX 261.78 ($3.55). Approximately 32,389,299 shares traded hands during mid-day trading, an increase of 299% from the average daily volume of 8,124,186 shares. The stock had previously closed at GBX 300 ($4.07).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price on shares of 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, Ocado Group presently has a consensus rating of "Buy" and a consensus target price of GBX 437.

Ocado Group Stock Down 13.4%

The stock's 50-day simple moving average is GBX 318.45 and its 200-day simple moving average is GBX 283.82. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16. The firm has a market capitalization of £2.15 billion, a P/E ratio of 553.03 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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