Ocado Group (LON:OCDO) Stock Price Down 9.8% - Time to Sell?

Key Points

• Ocado Group's stock price fell by 9.8%, trading as low as GBX 240.30 ($3.26) before recovering slightly to GBX 270.71 ($3.67), with a significant increase in trading volume.
• JPMorgan Chase & Co. has raised its price target for Ocado from GBX 400 to GBX 437 and maintains an "overweight" rating, contributing to a consensus "Buy" rating among analysts.
• Ocado Group currently has a market capitalization of £2.24 billion and a high price-to-earnings ratio of 575.99, indicating substantial investor interest despite recent declines.

Shares of Ocado Group plc (LON:OCDO - Get Free Report) were down 9.8% during trading on Saturday . The company 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 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).

Analysts Set New Price Targets

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

Ocado Group Price Performance

The firm has a market capitalization of £1.91 billion, a P/E ratio of 491.28 and a beta of 1.85. 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 company has a 50 day moving average of GBX 318.51 and a 200-day moving average of GBX 282.18.

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.