Oatly Group (NASDAQ:OTLY) Stock Price Down 7.4% on Analyst Downgrade

Oatly Group AB (NASDAQ:OTLYGet Rating)’s stock price was down 7.4% on Monday after Cowen lowered their price target on the stock from $5.00 to $3.00. The stock traded as low as 1.81 and last traded at 1.81. Approximately 112,077 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 3,901,434 shares. The stock had previously closed at 1.95.

Several other brokerages also recently weighed in on OTLY. Mizuho cut their price target on shares of Oatly Group from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Wednesday, November 16th. Royal Bank of Canada cut their price target on shares of Oatly Group from $8.00 to $7.00 in a report on Wednesday, November 16th. Piper Sandler dropped their price objective on shares of Oatly Group from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Barclays dropped their price objective on shares of Oatly Group from $6.00 to $5.00 in a research note on Wednesday, August 3rd. Finally, Cowen dropped their price objective on shares of Oatly Group from $5.00 to $3.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Oatly Group currently has an average rating of “Hold” and a consensus target price of 8.08.

Institutional Inflows and Outflows

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

Oatly Group Stock Down 6.2 %

The business has a fifty day simple moving average of 2.40 and a two-hundred day simple moving average of 3.24. The company has a current ratio of 1.56, a quick ratio of 1.18 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.08 billion, a PE ratio of -3.36 and a beta of 0.69.

About Oatly Group

(Get Rating)

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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