Royal Bank of Canada Lowers Oatly Group (NASDAQ:OTLY) Price Target to $7.00

Oatly Group (NASDAQ:OTLYGet Rating) had its price target cut by Royal Bank of Canada from $8.00 to $7.00 in a research note published on Wednesday, The Fly reports.

Other analysts also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of Oatly Group from $8.00 to $6.00 and set an overweight rating for the company in a report on Wednesday, August 3rd. Credit Suisse Group reduced their target price on shares of Oatly Group from $3.43 to $3.30 and set a neutral rating for the company in a report on Tuesday, November 15th. Mizuho reduced their target price on shares of Oatly Group from $3.50 to $2.50 and set a neutral rating for the company in a report on Wednesday. Finally, Barclays reduced their target price on shares of Oatly Group from $6.00 to $5.00 in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Oatly Group has a consensus rating of Hold and an average price target of 8.93.

Oatly Group Stock Performance

Shares of OTLY stock opened at 1.95 on Wednesday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.56. The company has a 50-day simple moving average of 2.40 and a 200 day simple moving average of 3.24. Oatly Group has a 52 week low of 1.78 and a 52 week high of 10.76.

Institutional Trading of Oatly Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management LLC lifted its holdings in shares of Oatly Group by 26.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,215,352 shares of the company’s stock worth $3,196,000 after acquiring an additional 251,041 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in shares of Oatly Group during the 3rd quarter worth approximately $1,038,000. Marshall Wace LLP lifted its holdings in shares of Oatly Group by 15.1% during the 3rd quarter. Marshall Wace LLP now owns 252,969 shares of the company’s stock worth $666,000 after acquiring an additional 33,154 shares during the period. UBS Group AG lifted its holdings in shares of Oatly Group by 449.6% during the 3rd quarter. UBS Group AG now owns 2,148,323 shares of the company’s stock worth $5,650,000 after acquiring an additional 1,757,445 shares during the period. Finally, Performa Ltd US LLC lifted its holdings in shares of Oatly Group by 33.3% during the 3rd quarter. Performa Ltd US LLC now owns 48,000 shares of the company’s stock worth $126,000 after acquiring an additional 12,000 shares during the period. Institutional investors own 22.65% of the company’s stock.

About Oatly Group

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Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.

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