Ocado Group (LON:OCDO) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Ocado Group plc (LON:OCDO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 366.78 ($4.79) and traded as high as GBX 397.86 ($5.20). Ocado Group shares last traded at GBX 384.50 ($5.02), with a volume of 1,469,612 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on OCDO shares. JPMorgan Chase & Co. decreased their price target on shares of Ocado Group from GBX 450 ($5.88) to GBX 380 ($4.96) and set a “neutral” rating for the company in a research report on Friday, June 28th. Berenberg Bank lowered Ocado Group to an “underperform” rating and decreased their target price for the company from GBX 1,000 ($13.06) to GBX 260 ($3.40) in a report on Monday, July 15th. Finally, Shore Capital restated a “not rated” rating on shares of Ocado Group in a report on Thursday, September 19th.

Ocado Group Trading Down 2.2 %

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 company’s 50-day moving average price is GBX 365.53 and its 200-day moving average price is GBX 366.76. The firm has a market capitalization of £2.97 billion, a PE ratio of -1,390.38 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.