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

Oatly Group AB (NASDAQ:OTLY) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OTLY. DA Davidson initiated coverage on shares of Oatly Group in a research note on Friday, March 1st. They issued a “buy” rating and a $1.50 target price for the company. 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. Finally, Royal Bank of Canada raised their price target on Oatly Group from $0.63 to $1.05 and gave the stock a “sector perform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.11.

Oatly Group Trading Up 1.7 %

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

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

Institutional Investors Weigh In On Oatly Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Oatly Group by 21.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,963,225 shares of the company’s stock worth $15,201,000 after buying an additional 2,986,805 shares during the last quarter. Pathstone Family Office LLC grew its stake in shares of Oatly Group by 107.2% during the 3rd quarter. Pathstone Family Office LLC now owns 88,489 shares of the company’s stock worth $79,000 after purchasing an additional 45,775 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of Oatly Group during the 3rd quarter worth approximately $43,000. IPG Investment Advisors LLC increased its holdings in shares of Oatly Group by 32.1% during the 3rd quarter. IPG Investment Advisors LLC now owns 453,000 shares of the company’s stock valued at $406,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Oatly Group in the 3rd quarter valued at $68,000. 68.15% of the stock is owned by institutional investors and hedge funds.

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.