Ocado Group (LON:OCDO) Shares Cross Above 200 Day Moving Average – Time to Sell?

Ocado Group plc (LON:OCDO)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 203.55 and traded as high as GBX 258.80. Ocado Group shares last traded at GBX 258.40, with a volume of 2,155,010 shares.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 300.

Ocado Group Stock Performance

The company has a market capitalization of £2.18 billion, a P/E ratio of -8.59 and a beta of 2.41. The stock has a fifty day simple moving average of GBX 226.62 and a 200-day simple moving average of GBX 203.95. The company has a quick ratio of 2.81, a current ratio of 1.41 and a debt-to-equity ratio of 110.64.

Ocado Group (LON:OCDO) last posted its earnings results on Thursday, July 16th. The company reported GBX (3.90) earnings per share for the quarter. Ocado Group had a negative return on equity of 15.94% and a negative net margin of 14.29%.

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.