Ocado Group (LON:OCDO) Trading 15.6% Higher – Here’s Why

Ocado Group plc (LON:OCDO)’s share price shot up 15.6% during trading on Thursday . The stock traded as high as GBX 293.58 ($3.80) and last traded at GBX 288.70 ($3.74). 384,146,594 shares traded hands during mid-day trading, an increase of 1,835% from the average session volume of 19,847,646 shares. The stock had previously closed at GBX 249.80 ($3.23).

Ocado Group Trading Up 1.4 %

The company has a debt-to-equity ratio of 144.16, a current ratio of 2.35 and a quick ratio of 2.82. The firm has a fifty day simple moving average of GBX 287.88 and a two-hundred day simple moving average of GBX 318.84. The firm has a market capitalization of £2.47 billion, a P/E ratio of -11.21 and a beta of 1.85.

Ocado Group (LON:OCDO) last posted its quarterly earnings results on Friday, March 7th. The company reported GBX (41) (($0.53)) earnings per share for the quarter. Ocado Group had a negative return on equity of 15.18% and a negative net margin of 7.23%.

Insider Transactions at Ocado Group

In related news, insider Adam Warby purchased 100,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of GBX 225 ($2.91) per share, with a total value of £225,000 ($291,224.44). Corporate insiders own 29.45% of the company’s stock.

Ocado Group Company Profile

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.