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

Key Points

• Ocado Group shares fell by 9.8%, trading as low as GBX 240.30 ($3.26) before recovering to GBX 270.71 ($3.67), with trading volume nearly doubling the average.
• Analysts at JPMorgan Chase increased their target price for Ocado from GBX 400 to GBX 437, maintaining an "overweight" rating.
• Ocado Group, which specializes in online grocery fulfillment solutions, has a market cap of £2.24 billion and a high P/E ratio of 575.99.

Ocado Group plc (LON:OCDO - Get Free Report) shares fell 9.8% during trading on Saturday . The company traded as low as GBX 240.30 ($3.26) and last traded at GBX 270.71 ($3.67). 15,986,102 shares changed hands during 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).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective 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 company presently has a consensus rating of "Buy" and an average price target of GBX 437.

Ocado Group Stock Performance

The firm has a market capitalization of £1.91 billion, a PE ratio of 490.00 and a beta of 1.85. 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 firm has a 50-day moving average price of GBX 318.95 and a 200 day moving average price of GBX 283.18.

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.