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

Ricardo plc (LON:RCDO)’s stock price fell 24.6% during trading on Thursday . The company traded as low as GBX 263 ($3.27) and last traded at GBX 265.37 ($3.30). 5,355,946 shares traded hands 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 ($4.38).

Wall Street Analyst Weigh In

RCDO has been the topic of a number of research reports. Berenberg Bank reissued a “buy” rating and set a GBX 730 ($9.09) price objective on shares of Ricardo in a report on Tuesday, December 17th. Shore Capital reissued a “sell” rating on shares of Ricardo in a research note on Thursday.

Ricardo Price Performance

The stock has a market cap of £164.23 million, a PE ratio of 26,400.00 and a beta of 0.58. The business has a fifty day simple moving average of GBX 403.19 and a two-hundred day simple moving average of GBX 444.27. The company has a current ratio of 1.86, a quick ratio of 1.57 and a debt-to-equity ratio of 79.12.

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.