Ocado Group (LON:OCDO) Shares Down 18.1% – Here’s What Happened

Ocado Group plc (LON:OCDO) dropped 18.1% during mid-day trading on Friday . The company traded as low as GBX 268.78 ($3.39) and last traded at GBX 273 ($3.44). Approximately 15,295,455 shares traded hands during trading, an increase of 27% from the average daily volume of 12,015,859 shares. The stock had previously closed at GBX 333.20 ($4.20).

Ocado Group Trading Down 4.8 %

The business has a 50 day moving average of GBX 308.76 and a 200-day moving average of GBX 335.41. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16. The firm has a market capitalization of £2.18 billion, a P/E ratio of -9.89 and a beta of 1.85.

Ocado Group (LON:OCDO) last posted its earnings results on Thursday, February 27th. The company reported GBX (48.91) (($0.62)) earnings per share (EPS) for the quarter. Ocado Group had a negative return on equity of 15.18% and a negative net margin of 7.23%.

About Ocado Group

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.