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

Ricardo plc (LON:RCDO) shares were down 25% during mid-day trading on Thursday . The company traded as low as GBX 260 ($3.23) and last traded at GBX 264 ($3.28). Approximately 4,412,265 shares traded hands during mid-day trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.37).

Analyst Ratings Changes

A number of research firms recently weighed in on RCDO. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 730 ($9.07) 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 Price Performance

The company has a quick ratio of 1.57, a current ratio of 1.86 and a debt-to-equity ratio of 79.12. The stock has a market capitalization of £164.23 million, a PE ratio of 26,400.00 and a beta of 0.58. The stock’s 50 day moving average price is GBX 403.19 and its 200-day moving average price is GBX 444.27.

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.