Ocado Group (LON:OCDO) Shares Down 9.8% - What's Next?

Key Points

• Ocado Group's shares fell by 9.8%, closing at GBX 270.71 ($3.67) after trading as low as GBX 240.30 ($3.26), with trading volume significantly increasing by 99%.
• Despite the stock's recent decline, JPMorgan Chase & Co. raised their price target to GBX 437 and maintained an "overweight" rating.
• Ocado Group is a UK-based technology company specializing in end-to-end online grocery fulfillment solutions, holding a 50% share in Ocado Retail Ltd, alongside Marks & Spencer.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price fell 9.8% during trading on Saturday . The stock traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 15,986,102 shares changed hands during trading, an increase of 99% from the average session volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.07).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price target 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 analyst has rated the stock with a Buy rating, According to 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 50-day moving average price of GBX 318.28 and a two-hundred day moving average price of GBX 282.02. 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 company has a market cap of £1.91 billion, a PE ratio of 491.28 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.