Ricardo (LON:RCDO) Shares Down 24.6% – Here’s Why

Shares of Ricardo plc (LON:RCDO) fell 24.6% during mid-day trading on Thursday . The company traded as low as GBX 263 ($3.26) and last traded at GBX 265.37 ($3.29). 5,355,946 shares were traded during mid-day trading, an increase of 951% from the average session volume of 509,659 shares. The stock had previously closed at GBX 352 ($4.36).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Shore Capital reaffirmed a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank reiterated a “buy” rating and issued a GBX 730 ($9.05) price objective on shares of Ricardo in a report on Tuesday, December 17th.

Ricardo Trading Down 4.5 %

The firm has a market capitalization of £156.77 million, a PE ratio of 25,200.00 and a beta of 0.58. The firm has a 50 day simple moving average of GBX 397.61 and a 200 day simple moving average of GBX 441.32. The company has a current ratio of 1.86, a quick ratio of 1.57 and a debt-to-equity ratio of 79.12.

Ricardo Company Profile

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.