Oatly Group (NASDAQ:OTLY) Shares Gap Up to $2.69

Oatly Group AB (NASDAQ:OTLY – Get Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at 2.69, but opened at 2.85. Oatly Group shares last traded at 2.80, with a volume of 80,962 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OTLY. Cowen reduced their price target on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Piper Sandler increased their price target on Oatly Group from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Royal Bank of Canada reduced their price target on Oatly Group from $8.00 to $7.00 in a research report on Wednesday, November 16th. Cowen reduced their price target on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Finally, Credit Suisse Group reduced their price target 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of 6.94.

Oatly Group Stock Down 3.5 %

The firm has a 50 day simple moving average of 1.84 and a two-hundred day simple moving average of 2.65. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.47 billion, a P/E ratio of -4.29 and a beta of 0.31.

Oatly Group (NASDAQ:OTLY – Get Rating) last released its earnings results on Monday, November 14th. The company reported -0.18 earnings per share 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 business had revenue of 183.03 million for the quarter, compared to the consensus estimate of 209.10 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities research analysts expect that Oatly Group AB will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OTLY. Envestnet Asset Management Inc. lifted its stake in shares of Oatly Group by 14.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,467 shares of the company’s stock valued at $283,000 after acquiring an additional 7,103 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Oatly Group by 7.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 117,589 shares of the company’s stock valued at $589,000 after acquiring an additional 7,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Oatly Group in the 1st quarter valued at $55,000. Integrated Wealth Concepts LLC bought a new position in shares of Oatly Group in the 1st quarter valued at $55,000. Finally, BlackRock Inc. lifted its stake in shares of Oatly Group by 31.1% in the 1st quarter. BlackRock Inc. now owns 63,066 shares of the company’s stock valued at $316,000 after acquiring an additional 14,969 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Oatly Group Company Profile

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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.