Ocado Group (LON:OCDO) Stock Price Down 15.4%

Shares of Ocado Group plc (LON:OCDO) dropped 15.4% during trading on Thursday . The company traded as low as GBX 297 ($3.77) and last traded at GBX 298.10 ($3.79). Approximately 9,981,764 shares changed hands during trading, an increase of 129% from the average daily volume of 4,363,945 shares. The stock had previously closed at GBX 352.50 ($4.48).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Ocado Group from GBX 600 ($7.62) to GBX 350 ($4.45) and set a “neutral” rating on the stock in a research report on Monday, May 13th.

Ocado Group Stock Performance

The business has a 50 day simple moving average of GBX 356.59 and a two-hundred day simple moving average of GBX 489.53. The firm has a market cap of £2.55 billion, a PE ratio of -819.47 and a beta of 1.73. The company has a quick ratio of 2.82, a current ratio of 2.49 and a debt-to-equity ratio of 129.71.

Insiders Place Their Bets

In other Ocado Group news, insider Richard N. (Rick) Haythornthwaite acquired 27,320 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of GBX 366 ($4.65) per share, with a total value of £99,991.20 ($127,053.62). Insiders have purchased 27,445 shares of company stock worth $10,044,278 in the last three months. Corporate insiders own 29.51% of the company’s stock.

About Ocado Group

Ocado Group plc, together with its subsidiaries, operates as an online grocery retailer in the United Kingdom and internationally. The company operates in three segments: Technology Solutions, Ocado Logistics, and Ocado Retail. It offers online grocery and general merchandise; and customer fulfillment centers and logistics services.