Ocado Group (LON:OCDO) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Ocado Group plc (LON:OCDO) crossed 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 traded.

Analyst Ratings Changes

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

Ocado Group Stock Down 2.2 %

The business’s 50 day moving average price is GBX 365.53 and its 200-day moving average price is GBX 366.76. 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 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.