Ocado Group (LON:OCDO) Shares Cross Above 200-Day Moving Average – Should You Sell?

Ocado Group plc (LON:OCDO)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 201.53 and traded as high as GBX 252.40. Ocado Group shares last traded at GBX 250.03, with a volume of 3,519,874 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on OCDO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 310 price target on shares of Ocado Group in a report on Monday, June 1st. JPMorgan Chase & Co. raised their price objective on shares of Ocado Group from GBX 245 to GBX 290 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 300.

Ocado Group Price Performance

The stock has a fifty day simple moving average of GBX 201.50 and a 200-day simple moving average of GBX 201.63. The company has a market capitalization of £2.00 billion, a PE ratio of -7.91 and a beta of 2.40. The company has a current ratio of 1.41, a quick ratio of 2.81 and a debt-to-equity ratio of 110.64.

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

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.