Ocado Group (LON:OCDO) Stock Price Down 9.8% - What's Next?

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) was down 9.8% during mid-day trading on Saturday . The stock traded as low as GBX 240.30 ($3.28) and last traded at GBX 270.71 ($3.69). Approximately 15,986,102 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.09).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on Ocado Group from GBX 400 to GBX 437 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 437.

Ocado Group Stock Performance

The firm's fifty day moving average price is GBX 318.51 and its 200 day moving average price is GBX 282.18. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16. The firm has a market capitalization of £1.91 billion, a PE ratio of 491.28 and a beta of 1.85.

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.