Ricardo (LON:RCDO) Shares Down 25% – Here’s What Happened

Shares of Ricardo plc (LON:RCDO) were down 25% during trading on Thursday . The company traded as low as GBX 260 ($3.24) and last traded at GBX 264 ($3.29). Approximately 4,412,265 shares changed hands during mid-day trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.38).

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Shore Capital restated a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank reissued a “buy” rating and set a GBX 730 ($9.09) target price on shares of Ricardo in a report on Tuesday, December 17th.

Ricardo Trading Down 25.0 %

The company has a debt-to-equity ratio of 79.12, a current ratio of 1.86 and a quick ratio of 1.57. The firm has a fifty day simple moving average of GBX 403.19 and a 200-day simple moving average of GBX 444.27. The firm has a market cap of £164.23 million, a P/E ratio of 26,400.00 and a beta of 0.58.

About Ricardo

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility.