Ocado Group (LON:OCDO) Stock Price Up 15.6% – Here’s What Happened

Ocado Group plc (LON:OCDO)’s share price rose 15.6% during mid-day trading on Thursday . The company traded as high as GBX 293.58 ($3.80) and last traded at GBX 288.70 ($3.74). Approximately 384,146,594 shares changed hands during mid-day trading, an increase of 1,835% from the average daily volume of 19,847,646 shares. The stock had previously closed at GBX 249.80 ($3.23).

Ocado Group Stock Performance

The business’s fifty day simple moving average is GBX 287.88 and its 200-day simple moving average is GBX 318.84. The firm has a market cap of £2.47 billion, a P/E ratio of -11.21 and a beta of 1.85. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16.

Ocado Group (LON:OCDO) last announced its quarterly earnings results on Friday, March 7th. The company reported GBX (41) (($0.53)) earnings per share (EPS) for the quarter. Ocado Group had a negative net margin of 7.23% and a negative return on equity of 15.18%.

Insider Buying and Selling

In related news, insider Adam Warby purchased 100,000 shares of Ocado Group stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of GBX 225 ($2.91) per share, for a total transaction of £225,000 ($291,224.44). 29.45% of the stock is currently owned by insiders.

About Ocado Group

Ocado Group is a UK based technology company that provides end-to-end online grocery fulfilment solutions, known as the Ocado Smart Platform, to some of the world’s largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. OSP comprises access to Ocado’s physical infrastructure solutions, running highly efficient warehouse operations for the single pick of products, together with the entire end-to-end proprietary software applications required to operate a world class online grocery business.