Ocado Group (LON:OCDO) Trading Down 10.6% - Here's Why

Key Points

• Ocado Group's share price fell by 10.6%, trading as low as GBX 266.50 ($3.62) after closing at GBX 300 ($4.07) previously.
• Despite the drop, JPMorgan Chase & Co. upgraded Ocado's price target from GBX 400 to GBX 437 with an "overweight" rating, indicating positive sentiment from some analysts.
• Ocado Group has a market capitalization of £2.23 billion and significant indicators, such as a high price-to-earnings ratio of 573.40 and a debt-to-equity ratio of 144.16.

Ocado Group plc (LON:OCDO - Get Free Report)'s share price was down 10.6% during trading on Friday . The company traded as low as GBX 266.50 ($3.62) and last traded at GBX 268.26 ($3.64). Approximately 30,272,717 shares were traded during mid-day trading, an increase of 273% from the average daily volume of 8,112,228 shares. The stock had previously closed at GBX 300 ($4.07).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Ocado Group presently has an average rating of "Buy" and a consensus target price of GBX 437.

Ocado Group Trading Down 10.2%

The company has a market cap of £2.23 billion, a price-to-earnings ratio of 573.40 and a beta of 1.85. The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm's fifty day moving average price is GBX 318.45 and its 200-day moving average price is GBX 283.82.

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.

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