Ocado Group (LON:OCDO) Shares Down 15.5% – Here’s Why

Ocado Group plc (LON:OCDO)’s stock price traded down 15.5% during mid-day trading on Thursday . The stock traded as low as GBX 277.60 ($3.52) and last traded at GBX 281.50 ($3.57). 6,570,504 shares changed hands during trading, a decline of 44% from the average session volume of 11,803,056 shares. The stock had previously closed at GBX 333.20 ($4.23).

Ocado Group Price Performance

The firm has a 50 day moving average of GBX 309.22 and a 200-day moving average of GBX 336.26. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16. The company has a market cap of £2.39 billion, a P/E ratio of -10.82 and a beta of 1.85.

Ocado Group Company Profile

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.