Oatly Group (NASDAQ:OTLY) Trading Up 8.4% Following Analyst Upgrade

Oatly Group AB (NASDAQ:OTLYGet Rating) shares were up 8.4% during trading on Tuesday after Piper Sandler raised their price target on the stock from $3.00 to $4.00. Piper Sandler currently has an overweight rating on the stock. Oatly Group traded as high as 2.62 and last traded at 2.58. Approximately 39,588 shares traded hands during trading, a decline of 100% from the average daily volume of 8,171,244 shares. The stock had previously closed at 2.38.

Several other brokerages have also commented on OTLY. Cowen decreased their price objective on Oatly Group from $5.00 to $3.00 in a report on Monday, November 21st. Royal Bank of Canada cut their target price on Oatly Group from $8.00 to $7.00 in a research report on Wednesday, November 16th. Credit Suisse Group cut their target price on Oatly Group from $3.43 to $3.30 and set a “neutral” rating on the stock in a research report on Tuesday, November 15th. Cowen cut their target price on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Finally, Mizuho cut their target price on Oatly Group from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of 6.62.

Institutional Investors Weigh In On Oatly Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. grew its position in Oatly Group by 3,034.7% during the 2nd quarter. Montag A & Associates Inc. now owns 9,404 shares of the company’s stock worth $33,000 after purchasing an additional 9,104 shares during the period. OLD Mission Capital LLC acquired a new stake in Oatly Group during the 2nd quarter worth about $41,000. Kistler Tiffany Companies LLC grew its position in Oatly Group by 257.6% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 13,081 shares of the company’s stock worth $45,000 after purchasing an additional 9,423 shares during the period. M&T Bank Corp acquired a new stake in Oatly Group during the 2nd quarter worth about $52,000. Finally, HighTower Trust Company N.A. acquired a new stake in Oatly Group during the 3rd quarter worth about $53,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Oatly Group Price Performance

The firm has a 50-day simple moving average of 1.76 and a two-hundred day simple moving average of 2.69. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.66 and a beta of 0.31. The company has a current ratio of 1.56, a quick ratio of 1.18 and a debt-to-equity ratio of 0.14.

Oatly Group (NASDAQ:OTLYGet Rating) last posted its earnings results on Monday, November 14th. The company reported -0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of -0.11 by -0.07. Oatly Group had a negative return on equity of 32.36% and a negative net margin of 48.68%. The firm had revenue of 183.03 million for the quarter, compared to analysts’ expectations of 209.10 million. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, analysts predict that Oatly Group AB will post -0.56 earnings per share for the current fiscal year.

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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