Ricardo (LON:RCDO) Trading Down 23.9% – Here’s What Happened

Ricardo plc (LON:RCDO) shares traded down 23.9% on Thursday . The company traded as low as GBX 264 ($3.29) and last traded at GBX 268 ($3.34). 4,226,869 shares changed hands during mid-day trading, an increase of 827% from the average session volume of 455,893 shares. The stock had previously closed at GBX 352 ($4.38).

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Shore Capital reaffirmed a “sell” rating on shares of Ricardo in a research report on Thursday, October 24th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 730 ($9.09) price objective on shares of Ricardo in a research report on Tuesday, December 17th.

Ricardo Trading Down 23.9 %

The company has a market cap of £166.72 million, a price-to-earnings ratio of 26,800.00 and a beta of 0.58. 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 business’s fifty day simple moving average is GBX 404.05 and its two-hundred day simple moving average is GBX 444.94.

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.