Ocado Group (LON:OCDO) Stock Price Down 17% - Time to Sell?

Key Points

• Ocado Group's stock price plummeted by 17% on Friday, trading as low as GBX 247.19 ($3.36), after previously closing at GBX 300 ($4.07).
• Analysts from JPMorgan Chase & Co. have raised their price target for Ocado from GBX 400 to GBX 437, maintaining an "overweight" rating for the stock, which has a consensus rating of "Buy."
• Ocado Group boasts a market capitalization of £2.24 billion and has a high P/E ratio of 575.99, indicating significant valuation concerns amidst its recent market performance.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price traded down 17% on Friday . The company traded as low as GBX 247.19 ($3.36) and last traded at GBX 248.90 ($3.38). 34,888,637 shares changed hands during mid-day trading, an increase of 329% from the average session volume of 8,138,306 shares. The stock had previously closed at GBX 300 ($4.07).

Analyst Ratings Changes

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

Ocado Group Price Performance

The company has a quick ratio of 2.82, a current ratio of 2.35 and a debt-to-equity ratio of 144.16. The stock has a market cap of £2.24 billion, a P/E ratio of 575.99 and a beta of 1.85. The firm's fifty day moving average price is GBX 318.45 and its 200-day moving average price is GBX 283.82.

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.

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