Ricardo (LON:RCDO) Trading Down 24.6% – Here’s What Happened

Shares of Ricardo plc (LON:RCDO) dropped 24.6% during mid-day trading on Thursday . The company traded as low as GBX 263 ($3.27) and last traded at GBX 265.37 ($3.30). Approximately 5,355,946 shares traded hands during mid-day trading, an increase of 951% from the average daily volume of 509,659 shares. The stock had previously closed at GBX 352 ($4.38).

Analysts Set New Price Targets

A number of analysts have commented on RCDO shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 730 ($9.09) price target on shares of Ricardo in a research report on Tuesday, December 17th. Shore Capital reaffirmed a “sell” rating on shares of Ricardo in a report on Thursday.

Ricardo Price Performance

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