Shares of Ocado Group plc (LON:OCDO – Get Free Report) were up 14.4% during mid-day trading on Thursday . The stock traded as high as GBX 411 ($5.43) and last traded at GBX 400 ($5.28). Approximately 72,966,305 shares changed hands during mid-day trading, an increase of 977% from the average daily volume of 6,775,038 shares. The stock had previously closed at GBX 349.60 ($4.62).
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on OCDO shares. Shore Capital reissued a “not rated” rating on shares of Ocado Group in a research report on Thursday. Berenberg Bank cut Ocado Group to an “underperform” rating and reduced their price target for the company from GBX 1,000 ($13.21) to GBX 260 ($3.43) in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. decreased their price target on Ocado Group from GBX 450 ($5.94) to GBX 380 ($5.02) and set a “neutral” rating for the company in a research note on Friday, June 28th.
Get Our Latest Stock Report on OCDO
Ocado Group Stock Down 4.4 %
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.
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