Ocado Group (LON:OCDO) Trading Down 9.8% - Should You Sell?

Key Points

• Ocado Group plc shares fell by 9.8%, trading as low as GBX 240.30 ($3.26) before recovering slightly to GBX 270.71 ($3.67), with trading volume increasing significantly by 99% compared to its average.
• Despite the recent decline, analysts at JPMorgan Chase & Co. raised their price target for Ocado shares to GBX 437 and maintained an "overweight" rating, indicating strong future growth potential.
• Ocado Group has a market capitalization of £2.24 billion, with a high PE ratio of 575.99 and significant leverage, evidenced by a debt-to-equity ratio of 144.16.

Ocado Group plc (LON:OCDO - Get Free Report)'s share price traded down 9.8% during mid-day trading on Saturday . The company traded as low as GBX 240.30 ($3.28) and last traded at GBX 270.71 ($3.69). 15,986,102 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.09).

Analyst Ratings Changes

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

Ocado Group Stock Up 1.4%

The firm has a 50 day moving average price of GBX 318.51 and a 200-day moving average price of GBX 282.18. 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 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.