Ricardo (LON:RCDO) Shares Down 23.3% – Time to Sell?

Ricardo plc (LON:RCDO) shares traded down 23.3% on Thursday . The company traded as low as GBX 264 ($3.27) and last traded at GBX 270 ($3.35). 3,864,021 shares changed hands during trading, an increase of 781% from the average session volume of 438,369 shares. The stock had previously closed at GBX 352 ($4.36).

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Shore Capital reissued a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank reiterated a “buy” rating and set a GBX 730 ($9.05) target price on shares of Ricardo in a report on Tuesday, December 17th.

Ricardo Stock 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 firm has a market cap of £156.77 million, a P/E ratio of 25,200.00 and a beta of 0.58. The business has a fifty day simple moving average of GBX 400.67 and a 200-day simple moving average of GBX 443.02.

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.