Oatly Group (NASDAQ:OTLY) Shares Gap Down to $1.16

Oatly Group AB (NASDAQ:OTLY) shares gapped down prior to trading on Thursday . The stock had previously closed at $1.16, but opened at $1.04. Oatly Group shares last traded at $1.12, with a volume of 1,417,925 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Oatly Group from $0.63 to $1.05 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $1.25 price target on shares of Oatly Group in a research note on Tuesday, February 20th. Finally, DA Davidson assumed coverage on Oatly Group in a report on Friday, March 1st. They set a “buy” rating and a $1.50 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2.11.

Oatly Group Price Performance

The company has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.75.

Oatly Group (NASDAQ:OTLY) last issued its 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 return on equity of 41.06% and a negative net margin of 49.19%. The business had revenue of $199.16 million during the quarter, compared to analysts’ expectations of $198.43 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, sell-side analysts predict that Oatly Group AB will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Oatly Group

Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Oatly Group in the first quarter valued at about $998,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Oatly Group by 144.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,038 shares of the company’s stock worth $227,000 after buying an additional 118,886 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Oatly Group during the 4th quarter valued at $44,000. CastleKnight Management LP raised its holdings in shares of Oatly Group by 430.8% during the fourth quarter. CastleKnight Management LP now owns 1,527,700 shares of the company’s stock valued at $1,803,000 after purchasing an additional 1,239,874 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Oatly Group during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 68.15% of the company’s stock.

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.