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

Ricardo plc (LON:RCDO) shares dropped 25% during trading on Thursday . The stock 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 Upgrades and Downgrades

Several brokerages have commented on RCDO. Shore Capital restated a “sell” rating on shares of Ricardo in a research note on Thursday. Berenberg Bank restated a “buy” rating and set a GBX 730 ($9.07) price objective on shares of Ricardo in a report on Tuesday, December 17th.

Ricardo Stock Performance

The company has a market cap of £164.23 million, a P/E ratio of 26,400.00 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 company has a 50 day moving average price of GBX 403.19 and a 200-day moving average price of 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.