Ocado Group (LON:OCDO) Stock Price Down 10.6% - Here's Why

Key Points

• Ocado Group's stock fell by 10.6%, trading as low as GBX 267 ($3.63) during mid-day trading, with significant trading volume increasing to approximately 28.7 million shares.
• JPMorgan Chase & Co. upgraded Ocado's target price from GBX 400 to GBX 437 and rated the stock as "overweight," while it currently holds an average rating of "Buy."
• Ocado Group has a market capitalization of £2.23 billion, with a high P/E ratio of 573.40 and a debt-to-equity ratio of 144.16, indicating financial leverage in its operations.

Ocado Group plc (LON:OCDO - Get Free Report) shares were down 10.6% during mid-day trading on Friday . The company traded as low as GBX 267 ($3.63) and last traded at GBX 268.10 ($3.64). Approximately 28,714,279 shares changed hands during mid-day trading, an increase of 254% from the average daily volume of 8,103,423 shares. The stock had previously closed at GBX 300 ($4.07).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their target price on Ocado Group from GBX 400 to GBX 437 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ocado Group presently has an average rating of "Buy" and an average price target of GBX 437.

Ocado Group Stock Performance

The firm has a market capitalization of £2.23 billion, a P/E ratio of 573.40 and a beta of 1.85. The stock has a 50-day moving average of GBX 318.45 and a 200 day moving average of GBX 283.82. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35.

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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