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

Ricardo plc (LON:RCDO)’s share price dropped 25% 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 changed hands during trading, an increase of 849% from the average daily volume of 464,721 shares. The stock had previously closed at GBX 352 ($4.37).

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 730 ($9.07) price target on shares of Ricardo in a research note on Tuesday, December 17th. Shore Capital reaffirmed a “sell” rating on shares of Ricardo in a report on Thursday.

Ricardo Stock Performance

The business has a 50-day moving average price of GBX 403.19 and a 200-day moving average price of GBX 444.27. 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 capitalization of £164.23 million, a price-to-earnings ratio of 26,400.00 and a beta of 0.58.

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.