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

Key Points

• Ocado Group's stock price declined by 9.8%, trading as low as GBX 240.30 ($3.26), before last trading at GBX 270.71 ($3.67) amidst an increase in trading volume of 99% from the average.
• JPMorgan Chase & Co. has raised their price target for Ocado Group from GBX 400 to GBX 437 and maintains an "overweight" rating, indicating a positive outlook for the stock.
• Despite recent declines, Ocado Group holds a market capitalization of £2.24 billion and maintains a "Buy" rating from analysts with an average target price of GBX 437.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price fell 9.8% during mid-day trading on Saturday . The company traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 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 ($4.07).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price target on Ocado Group from GBX 400 to GBX 437 and gave the company 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.com, Ocado Group has an average rating of "Buy" and an average target price of GBX 437.

Ocado Group Trading Down 9.8%

The company has a 50 day moving average of GBX 318.95 and a two-hundred day moving average of GBX 283.45. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35. The stock has a market capitalization of £2.24 billion, a PE ratio of 575.99 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.

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