Oatly Group (NASDAQ:OTLY) Shares Gap Up to $1.00

Oatly Group AB (NASDAQ:OTLY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.00, but opened at $1.04. Oatly Group shares last traded at $1.13, with a volume of 1,700,022 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on OTLY shares. DA Davidson initiated coverage on shares of Oatly Group in a research report on Friday, March 1st. They issued a “buy” rating and a $1.50 price target for the company. Royal Bank of Canada lifted 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. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $1.25 price objective on shares of Oatly Group in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.11.

Oatly Group Price Performance

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 business has a 50-day moving average price of $1.04 and a two-hundred day moving average price of $1.00. The company has a market capitalization of $684.32 million, a price-to-earnings ratio of -1.31 and a beta of 2.29.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Oatly Group by 21.4% during the 3rd 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. Pathstone Family Office LLC raised its holdings 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 acquiring an additional 45,775 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Oatly Group during the 3rd quarter worth approximately $43,000. IPG Investment Advisors LLC raised its holdings in 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 buying an additional 110,000 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Oatly Group during the 3rd quarter valued at $68,000. Institutional investors 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.