Ocado Group (LON:OCDO) Stock Passes Above 200-Day Moving Average – Here’s Why

Ocado Group plc (LON:OCDO)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 363.29 ($4.72) and traded as high as GBX 365 ($4.74). Ocado Group shares last traded at GBX 357 ($4.64), with a volume of 795,371 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OCDO shares. Berenberg Bank cut Ocado Group to an “underperform” rating and lowered their price target for the stock from GBX 1,000 ($12.98) to GBX 260 ($3.38) in a report on Monday, July 15th. JPMorgan Chase & Co. dropped their target price on shares of Ocado Group from GBX 450 ($5.84) to GBX 380 ($4.93) and set a “neutral” rating for the company in a research report on Friday, June 28th. Finally, Shore Capital reiterated a “not rated” rating on shares of Ocado Group in a report on Thursday, September 19th.

Ocado Group Price Performance

The company has a debt-to-equity ratio of 143.47, a quick ratio of 2.82 and a current ratio of 2.35. The firm has a fifty day simple moving average of GBX 361.92 and a two-hundred day simple moving average of GBX 362.04. The firm has a market cap of £2.94 billion, a PE ratio of -1,376.92 and a beta of 1.85.

Ocado Group Company Profile

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.