Ocado Group (LON:OCDO) Stock Price Down 10.6% - Here's Why

Ocado Group plc (LON:OCDO - Get Free Report) shares were down 10.6% during mid-day trading on Friday . The company traded as low as GBX 267 ($3.63) and last traded at GBX 268.10 ($3.64). Approximately 28,714,279 shares changed hands during mid-day trading, an increase of 254% from the average daily volume of 8,103,423 shares. The stock had previously closed at GBX 300 ($4.07).Analyst Ratings ChangesSeparately, JPMorgan Chase & Co. increased their target price on Ocado Group from GBX 400 to GBX 437 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ocado Group presently has an average rating of "Buy" and an average price target of GBX 437.View Our Latest Analysis on Ocado GroupOcado Group Stock PerformanceThe firm has a market capitalization of £2.23 billion, a P/E ratio of 573.40 and a beta of 1.85. The stock has a 50-day moving average of GBX 318.45 and a 200 day moving average of GBX 283.82. The company has a debt-to-equity ratio of 144.16, a quick ratio of 2.82 and a current ratio of 2.35. About Ocado Group (Get Free Report)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.Read MoreFive stocks we like better than Ocado GroupWhat Are Trending Stocks? Trending Stocks ExplainedHigh-Flyers Near Resistance: 3 Stocks to Watch for a DipAsset Allocation Strategies in Volatile MarketsSeagate Technology Leads S&P 500: What’s Behind Its 120% Gain?How to Calculate Inflation RateVanguard’s VUG ETF: The Ultimate Growth ETF for Your PortfolioThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Ocado Group Right Now?Before you consider Ocado Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ocado Group wasn't on the list.While Ocado Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here