Ocado Group (LON:OCDO) Trading Down 9.8% - Here's Why

Key Points

• Ocado Group's stock fell by 9.8%, trading between GBX 240.30 ($3.26) and GBX 270.71 ($3.67) during the session, significantly below its previous close at GBX 300 ($4.07).
• JPMorgan Chase & Co. upgraded Ocado's price target from GBX 400 to GBX 437, maintaining an "overweight" rating, indicating positive analyst sentiment despite the recent downturn.
• Ocado Group operates in the online grocery sector through its Ocado Smart Platform, and holds a 50% stake in Ocado Retail Ltd in a joint venture with Marks & Spencer.

Ocado Group plc (LON:OCDO - Get Free Report)'s stock price traded down 9.8% on Saturday . The stock traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 15,986,102 shares traded 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).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 437.

Ocado Group Trading Up 1.4%

The firm has a 50-day moving average of GBX 318.28 and a 200-day moving average of GBX 282.02. 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 firm has a market capitalization of £1.91 billion, a P/E ratio of 491.28 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.