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

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Berenberg Bank restated a “buy” rating and set a GBX 730 ($9.09) target price on shares of Ricardo in a research report on Tuesday, December 17th. Shore Capital reissued a “sell” rating on shares of Ricardo in a research report on Thursday.

Ricardo Price Performance

The stock has a market capitalization of £164.23 million, a price-to-earnings ratio of 26,400.00 and a beta of 0.58. The company has a quick ratio of 1.57, a current ratio of 1.86 and a debt-to-equity ratio of 79.12. The business’s 50 day simple moving average is GBX 403.19 and its 200-day simple moving average is GBX 444.27.

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.