Ocado Group (LON:OCDO) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ocado Group shares crossed above their 200-day moving average of GBX 279.31, reaching a high of GBX 397.79 during trading, and closing at GBX 395.60.
• JPMorgan Chase & Co. raised their price target for Ocado Group from GBX 400 to GBX 437, maintaining an "overweight" rating for the stock.
• The company's current financial metrics include a debt-to-equity ratio of 144.16 and a market capitalization of £3.32 billion.

Shares of Ocado Group plc (LON:OCDO - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 279.31 ($3.75) and traded as high as GBX 397.79 ($5.34). Ocado Group shares last traded at GBX 395.60 ($5.31), with a volume of 4,310,737 shares traded.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Ocado Group from GBX 400 ($5.37) to GBX 437 ($5.87) and gave the stock an "overweight" rating in a research report on Friday, August 1st.

Ocado Group Stock Performance

The stock's 50-day moving average price is GBX 276.19 and its 200 day moving average price is GBX 279.22. 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 has a market cap of £3.13 billion, a P/E ratio of -14.21 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.