Ocado Group (LON:OCDO) Shares Up 14.4%

Shares of Ocado Group plc (LON:OCDO) 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.

Ocado Group Stock Down 4.4 %

The company has a market capitalization of £2.82 billion, a price-to-earnings ratio of -1,321.54 and a beta of 1.85. The firm’s 50 day moving average price is GBX 371.84 and its two-hundred day moving average price is GBX 376.63. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 143.47.

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.