Ocado Group (LON:OCDO) Trading 13.3% Higher – Here’s Why

Ocado Group plc (LON:OCDO)’s stock price shot up 13.3% during mid-day trading on Wednesday . The company traded as high as GBX 284.60 ($3.68) and last traded at GBX 283.10 ($3.67). 12,073,884 shares were traded during mid-day trading, a decline of 12% from the average session volume of 13,646,435 shares. The stock had previously closed at GBX 249.80 ($3.23).

Ocado Group Stock Up 14.3 %

The business has a 50-day moving average price of GBX 289.69 and a 200 day moving average price of GBX 319.73. The stock has a market capitalization of £2.40 billion, a P/E ratio of -10.87 and a beta of 1.85. The company has a current ratio of 2.35, a quick ratio of 2.82 and a debt-to-equity ratio of 144.16.

Ocado Group (LON:OCDO) last posted its 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%.

Insiders Place Their Bets

In related news, insider Adam Warby purchased 100,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of GBX 225 ($2.91) per share, for a total transaction of £225,000 ($291,299.84). 29.45% of the stock is currently owned by insiders.

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.