Commonwealth Equity Services LLC raised its holdings in shares of Oatly Group AB (NASDAQ:OTLY) by 52.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,793 shares of the company’s stock after buying an additional 8,198 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Oatly Group were worth $359,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new position in Oatly Group during the third quarter valued at $1,087,000. Compagnie Lombard Odier SCmA purchased a new position in Oatly Group in the 3rd quarter worth about $32,000. Davy Global Fund Management Ltd purchased a new position in Oatly Group during the 3rd quarter valued at about $9,396,000. Belvedere Trading LLC purchased a new position in Oatly Group during the 3rd quarter valued at about $209,000. Finally, Dfpg Investments LLC purchased a new position in Oatly Group during the 3rd quarter valued at about $2,590,000. Institutional investors and hedge funds own 20.43% of the company’s stock.
Oatly Group stock opened at 7.41 on Friday. The stock’s 50 day moving average price is 8.84 and its 200 day moving average price is 14.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.04 and a quick ratio of 4.62. Oatly Group AB has a one year low of 7.18 and a one year high of 29.00.
OTLY has been the topic of a number of recent analyst reports. HSBC initiated coverage on shares of Oatly Group in a report on Tuesday, November 30th. They issued a “reduce” rating and a $7.80 price target on the stock. Credit Suisse Group lowered their price target on shares of Oatly Group from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, November 16th. Atlantic Securities cut shares of Oatly Group from an “overweight” rating to a “neutral” rating and set a $11.50 price target on the stock. in a report on Monday, November 22nd. Truist Securities lowered their price target on shares of Oatly Group from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 16th. Finally, Cowen lowered their target price on shares of Oatly Group from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, November 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of 19.43.
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, and frozen desserts and novelties; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oatmilk in original and chocolate flavors; and cooking products, including cooking creams, crÃ¨me fraiche products, whipping creams, vanilla custards, and spreads in a variety of flavors.
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