Oatly Group (NASDAQ:OTLY) Trading Up 4.4%

Oatly Group AB (NASDAQ:OTLY) traded up 4.4% during mid-day trading on Friday . The stock traded as high as $0.97 and last traded at $0.97. 649,252 shares traded hands during trading, a decline of 65% from the average session volume of 1,858,996 shares. The stock had previously closed at $0.93.

Analysts Set New Price Targets

OTLY has been the subject of a number of recent analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $1.25 price objective on shares of Oatly Group in a research report on Tuesday, February 20th. DA Davidson assumed coverage on Oatly Group in a report on Friday, March 1st. They issued a “buy” rating and a $1.50 price target for the company. Finally, Royal Bank of Canada upped their price objective 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 analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Oatly Group currently has a consensus rating of “Hold” and an average price target of $2.11.

Oatly Group Price Performance

The company has a market cap of $567.33 million, a price-to-earnings ratio of -1.14 and a beta of 2.29. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $1.08 and a two-hundred day simple moving average of $0.98.

Oatly Group (NASDAQ:OTLY) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $204.12 million during the quarter, compared to analyst estimates of $191.80 million. Oatly Group had a negative net margin of 53.22% and a negative return on equity of 37.94%. On average, equities research analysts anticipate that Oatly Group AB will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in Oatly Group by 1,099.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,419,290 shares of the company’s stock valued at $17,130,000 after buying an additional 3,134,320 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Oatly Group by 21.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,963,225 shares of the company’s stock valued at $15,201,000 after acquiring an additional 2,986,805 shares during the last quarter. BNP Paribas Asset Management Holding S.A. boosted its stake in shares of Oatly Group by 72.0% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 6,024,369 shares of the company’s stock worth $7,109,000 after purchasing an additional 2,521,847 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Oatly Group during the fourth quarter worth about $4,208,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Oatly Group by 567.0% in the first quarter. Balyasny Asset Management L.P. now owns 1,995,351 shares of the company’s stock valued at $4,829,000 after buying an additional 1,696,214 shares during the last quarter. 68.15% of the stock is currently 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.