Citigroup assumed coverage on shares of Oatly Group (NASDAQ:OTLY) in a research report sent to investors on Monday, Analyst Ratings Network reports. The firm issued a buy rating and a $21.00 price target on the stock.
A number of other analysts also recently weighed in on the company. Cowen initiated coverage on Oatly Group in a research report on Friday, September 10th. They set an outperform rating and a $26.00 target price for the company. Morgan Stanley cut their target price on Oatly Group from $29.00 to $20.00 and set an equal weight rating for the company in a research report on Wednesday, August 18th. Truist cut Oatly Group to a buy rating and lowered their price target for the stock from $35.00 to $25.00 in a report on Tuesday, August 17th. JPMorgan Chase & Co. started coverage on Oatly Group in a report on Monday, June 14th. They set a neutral rating and a $24.00 price target for the company. Finally, Nordea Equity Research started coverage on Oatly Group in a report on Tuesday, June 15th. They set a hold rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Oatly Group currently has a consensus rating of Buy and an average price target of 28.07.
Shares of NASDAQ OTLY opened at 16.05 on Monday. The company has a quick ratio of 5.47, a current ratio of 5.79 and a debt-to-equity ratio of 0.05. Oatly Group has a 12 month low of 14.87 and a 12 month high of 29.00. The business’s 50 day simple moving average is 17.77.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new stake in Oatly Group during the second quarter valued at $2,446,000. Morgan Stanley bought a new stake in Oatly Group during the second quarter valued at $3,298,000. Wells Fargo & Company MN purchased a new stake in Oatly Group during the second quarter valued at about $6,848,000. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Oatly Group in the second quarter worth about $2,562,000. Finally, Woodline Partners LP purchased a new position in Oatly Group during the 2nd quarter valued at about $10,678,000. 19.76% of the stock is owned by institutional investors.
Oatly Group Company Profile
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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