Ocado Group (LON:OCDO) Shares Up 14.4%

Ocado Group plc (LON:OCDO) shares shot up 14.4% on Thursday . The stock traded as high as GBX 411 ($5.43) and last traded at GBX 400 ($5.28). 72,966,305 shares were traded during mid-day trading, an increase of 977% from the average session volume of 6,775,038 shares. The stock had previously closed at GBX 349.60 ($4.62).

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Berenberg Bank lowered shares of Ocado Group to an “underperform” rating and cut their target price for the company from GBX 1,000 ($13.21) to GBX 260 ($3.43) in a research note on Monday, July 15th. JPMorgan Chase & Co. reduced their target price on Ocado Group from GBX 450 ($5.94) to GBX 380 ($5.02) and set a “neutral” rating on the stock in a report on Friday, June 28th.

Ocado Group Stock Performance

The stock’s 50-day moving average price is GBX 372.01 and its 200-day moving average price is GBX 378.59. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 143.47. The company has a market capitalization of £3.06 billion, a P/E ratio of -1,343.82 and a beta of 1.85.

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.