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

Ricardo plc (LON:RCDO) traded down 25% on Thursday . The stock traded as low as GBX 260 ($3.22) and last traded at GBX 264 ($3.27). 4,412,265 shares changed 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 ($4.36).

Analysts Set New Price Targets

Several brokerages have commented on RCDO. Berenberg Bank reiterated a “buy” rating and set a GBX 730 ($9.05) 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 note on Thursday.

Ricardo Stock Performance

The company has a current ratio of 1.86, a quick ratio of 1.57 and a debt-to-equity ratio of 79.12. The stock has a market capitalization of £156.77 million, a price-to-earnings ratio of 25,200.00 and a beta of 0.58. The stock’s 50 day moving average is GBX 397.61 and its two-hundred day moving average is GBX 441.32.

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.