Ocado Group plc (LON:OCDO - Get Free Report)'s share price dropped 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). Approximately 15,986,102 shares were traded during trading, an increase of 99% from the average daily volume of 8,031,512 shares. The stock had previously closed at GBX 300 ($4.07).
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. increased their price objective on shares of 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 stock currently has an average rating of "Buy" and an average price target of GBX 437.
View Our Latest Analysis on Ocado Group
Ocado Group Price Performance
The business's 50 day simple moving average is GBX 318.95 and its 200-day simple moving average is GBX 283.18. The company has a quick ratio of 2.82, a current ratio of 2.35 and a debt-to-equity ratio of 144.16. The stock has a market capitalization of £2.24 billion, a price-to-earnings ratio of 575.99 and a beta of 1.85.
Ocado Group Company Profile
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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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