Oatly Group (NASDAQ:OTLY) Shares Gap Up to $1.24

Oatly Group AB (NASDAQ:OTLY) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.24, but opened at $1.28. Oatly Group shares last traded at $1.24, with a volume of 162,297 shares traded.

Wall Street Analyst Weigh In

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

Oatly Group Stock Performance

The firm’s 50-day moving average is $1.08 and its 200 day moving average is $1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.61.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew 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 valued at $15,201,000 after buying an additional 2,986,805 shares in the last quarter. BNP Paribas Asset Management Holding S.A. raised its holdings in shares of Oatly Group by 72.0% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 6,024,369 shares of the company’s stock valued at $7,109,000 after purchasing an additional 2,521,847 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Oatly Group by 56.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,502,522 shares of the company’s stock worth $3,139,000 after purchasing an additional 1,257,812 shares during the period. CastleKnight Management LP grew its holdings in Oatly Group by 430.8% during the fourth quarter. CastleKnight Management LP now owns 1,527,700 shares of the company’s stock worth $1,803,000 after purchasing an additional 1,239,874 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Oatly Group in the first quarter valued at approximately $998,000. Institutional investors and hedge funds own 68.15% of the company’s stock.

Oatly Group Company Profile

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.