Ocado Group plc (LON:OCDO - Get Free Report) shares dropped 17% during trading on Friday . The company traded as low as GBX 247.19 ($3.37) and last traded at GBX 248.90 ($3.40). Approximately 34,888,637 shares traded hands during trading, an increase of 329% from the average daily volume of 8,138,306 shares. The stock had previously closed at GBX 300 ($4.10).
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. increased their price objective on Ocado Group from GBX 400 to GBX 437 and gave the company an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of GBX 437.
View Our Latest Analysis on Ocado Group
Ocado Group Price Performance
The stock has a 50-day simple moving average of GBX 318.72 and a two-hundred day simple moving average of GBX 282.57. 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 firm has a market cap of £1.87 billion, a PE ratio of 479.79 and a beta of 1.85.
About Ocado Group
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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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