Oatly Group (NASDAQ:OTLY) Shares Up 9.9% Following Earnings Beat

Oatly Group AB (NASDAQ:OTLYGet Rating) shot up 9.9% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as 3.62 and last traded at 3.56. 95,137 shares traded hands during trading, a decline of 98% from the average session volume of 4,304,209 shares. The stock had previously closed at 3.24.

The company reported -0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of -0.14 by 0.02. Oatly Group had a negative return on equity of 20.87% and a negative net margin of 39.96%. The firm had revenue of 178.00 million for the quarter, compared to analyst estimates of 183.52 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year.

Analyst Ratings Changes

Several brokerages have issued reports on OTLY. Credit Suisse Group dropped their price target on Oatly Group from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday. Barclays dropped their price target on Oatly Group from $6.00 to $5.00 in a research note on Wednesday. Mizuho dropped their price target on Oatly Group from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on Oatly Group from $8.00 to $6.00 and set a “maintains” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Oatly Group from $14.00 to $9.00 and set a “maintains” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of 11.19.

Institutional Investors Weigh In On Oatly Group

Several institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC grew its holdings in Oatly Group by 3.9% during the second quarter. Profund Advisors LLC now owns 74,576 shares of the company’s stock worth $258,000 after buying an additional 2,814 shares in the last quarter. Northern Oak Wealth Management Inc. bought a new stake in Oatly Group during the fourth quarter worth $27,000. Fifth Third Bancorp grew its holdings in Oatly Group by 15.6% during the first quarter. Fifth Third Bancorp now owns 29,571 shares of the company’s stock worth $148,000 after buying an additional 3,998 shares in the last quarter. Pendal Group Ltd grew its holdings in Oatly Group by 39.4% during the second quarter. Pendal Group Ltd now owns 16,786 shares of the company’s stock worth $58,000 after buying an additional 4,746 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Oatly Group by 17.2% during the second quarter. Commonwealth Equity Services LLC now owns 32,472 shares of the company’s stock worth $112,000 after buying an additional 4,775 shares in the last quarter. Institutional investors own 21.07% of the company’s stock.

Oatly Group Price Performance

The stock has a market cap of $2.09 billion, a P/E ratio of -7.61 and a beta of 0.90. The business has a 50 day simple moving average of 3.87 and a 200-day simple moving average of 4.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.77.

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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