Oatly Group (NASDAQ:OTLY) Shares Gap Down to $1.21

Oatly Group AB (NASDAQ:OTLY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $1.21, but opened at $1.17. Oatly Group shares last traded at $1.21, with a volume of 938,263 shares changing hands.

Analysts Set New Price Targets

OTLY has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $1.25 target price on shares of Oatly Group in a research report on Tuesday, February 20th. DA Davidson assumed coverage on Oatly Group in a research report on Friday, March 1st. They issued a “buy” rating and a $1.50 target price on the stock. Finally, Royal Bank of Canada raised their price target on shares of Oatly Group from $0.63 to $1.05 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. One 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. According to data from MarketBeat.com, Oatly Group has a consensus rating of “Hold” and a consensus price target of $2.11.

Oatly Group Stock Performance

The company has a 50-day moving average of $1.04 and a 200-day moving average of $1.01. The firm has a market capitalization of $731.92 million, a price-to-earnings ratio of -1.54 and a beta of 2.19. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

Oatly Group (NASDAQ:OTLY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Oatly Group had a negative net margin of 49.19% and a negative return on equity of 41.06%. The company had revenue of $199.16 million for the quarter, compared to the consensus estimate of $198.43 million. During the same period last year, the firm posted ($0.13) EPS. On average, equities research analysts forecast that Oatly Group AB will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oatly Group

Several institutional investors have recently made changes to their positions in OTLY. Performa Ltd US LLC lifted its holdings in shares of Oatly Group by 17.1% in the 4th quarter. Performa Ltd US LLC now owns 105,500 shares of the company’s stock worth $124,000 after purchasing an additional 15,440 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of Oatly Group during the fourth quarter worth about $28,000. Tower Research Capital LLC TRC acquired a new stake in shares of Oatly Group in the 4th quarter worth about $32,000. Quadrature Capital Ltd bought a new stake in Oatly Group in the 4th quarter valued at about $44,000. Finally, SG Americas Securities LLC boosted its stake in Oatly Group by 150.7% during the 4th quarter. SG Americas Securities LLC now owns 67,489 shares of the company’s stock valued at $80,000 after purchasing an additional 40,566 shares during the period. 68.15% of the stock is owned by institutional investors.

About Oatly Group

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Europe, the Middle East, Africa, the Americas, and Asia. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; cooking products, including cooking cream, in regular and organic, Crème Fraiche, whipping cream, vanilla custard, and spreads in a variety of flavors; and ready-to-go drinks.