Ocado Group (LON:OCDO) Shares Down 13.6% - Time to Sell?

Key Points

• Ocado Group's shares fell by 13.6% on Friday, trading as low as GBX 257.90 after hitting a previous close of GBX 300.
• Analysts from JPMorgan Chase raised their price target on Ocado from GBX 400 to GBX 437, maintaining an "overweight" rating for the stock.
• The company's current debt-to-equity ratio stands at 144.16, indicating a significant leverage position in its financial structure.

Ocado Group plc (LON:OCDO - Get Free Report) shares dropped 13.6% during mid-day trading on Friday . The stock traded as low as GBX 257.90 ($3.50) and last traded at GBX 259.20 ($3.52). Approximately 33,492,609 shares traded hands during mid-day trading, an increase of 312% from the average daily volume of 8,130,419 shares. The stock had previously closed at GBX 300 ($4.07).

Analysts Set New Price Targets

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

Ocado Group Trading Down 18.4%

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 318.45 and its 200 day moving average is GBX 283.82. The company has a market capitalization of £2.03 billion, a PE ratio of 520.85 and a beta of 1.85.

About Ocado Group

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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