Oatly Group AB (NASDAQ:OTLY – Get 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
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
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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