Ricardo (LON:RCDO) Shares Down 25% – Here’s Why

Shares of Ricardo plc (LON:RCDO) were down 25% during mid-day trading on Thursday . The stock traded as low as GBX 260 ($3.24) and last traded at GBX 264 ($3.29). Approximately 4,412,265 shares traded hands during mid-day trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.38).

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RCDO shares. Shore Capital restated a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank restated a “buy” rating and set a GBX 730 ($9.09) price objective on shares of Ricardo in a research report on Tuesday, December 17th.

Ricardo Price Performance

The company has a current ratio of 1.86, a quick ratio of 1.57 and a debt-to-equity ratio of 79.12. The stock has a fifty day simple moving average of GBX 403.19 and a two-hundred day simple moving average of GBX 444.27. The company has a market cap of £164.23 million, a PE ratio of 26,400.00 and a beta of 0.58.

About Ricardo

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility.