Ocado Group (LON:OCDO) Shares Up 15.6% – Here’s Why

Shares of Ocado Group plc (LON:OCDO) shot up 15.6% on Wednesday . The stock traded as high as GBX 293.58 ($3.80) and last traded at GBX 288.70 ($3.74). Approximately 384,146,594 shares changed 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 Stock Performance

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 business has a 50 day moving average price of GBX 288.49 and a two-hundred day moving average price of GBX 319.02. The stock has a market cap of £2.47 billion, a PE ratio of -11.21 and a beta of 1.85.

Ocado Group (LON:OCDO) last announced its quarterly earnings results on Friday, March 7th. The company reported GBX (41) (($0.53)) 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%.

Insider Activity at Ocado Group

In other Ocado Group news, insider Adam Warby bought 100,000 shares of Ocado Group stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of GBX 225 ($2.91) per share, with a total value of £225,000 ($291,224.44). 29.45% of the stock is owned by company insiders.

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.