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

Shares of Ricardo plc (LON:RCDO) were down 24.6% during trading on Thursday . The company traded as low as GBX 263 ($3.26) and last traded at GBX 265.37 ($3.29). Approximately 5,355,946 shares traded hands during mid-day trading, an increase of 951% from the average daily volume of 509,659 shares. The stock had previously closed at GBX 352 ($4.36).

Analyst Ratings Changes

RCDO has been the topic of several research reports. Shore Capital reissued a “sell” rating on shares of Ricardo in a research report 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 Trading Down 4.5 %

The business has a 50 day simple moving average of GBX 397.61 and a two-hundred day simple moving average of GBX 441.32. The stock has a market cap of £156.77 million, a price-to-earnings ratio of 25,200.00 and a beta of 0.58. 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.