Ricardo (LON:RCDO) Stock Price Down 25% – Here’s Why

Ricardo plc (LON:RCDO)’s share price dropped 25% on Thursday . The stock traded as low as GBX 260 ($3.23) and last traded at GBX 264 ($3.28). Approximately 4,412,265 shares were traded during trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.37).

Analysts Set New Price Targets

Several analysts recently commented on the company. Shore Capital reaffirmed a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank restated a “buy” rating and issued a GBX 730 ($9.07) price target on shares of Ricardo in a research report on Tuesday, December 17th.

Ricardo Stock Down 25.0 %

The firm’s 50-day simple moving average is GBX 403.19 and its two-hundred day simple moving average is GBX 444.27. The company has a debt-to-equity ratio of 79.12, a quick ratio of 1.57 and a current ratio of 1.86. The stock has a market cap of £164.23 million, a price-to-earnings 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.