Oatly Group (NASDAQ:OTLY) Coverage Initiated by Analysts at Citigroup

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.

Oatly Group (NASDAQ:OTLY) last released its quarterly earnings results on Sunday, August 15th. The company reported -0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of -0.10 by -0.01. The company had revenue of 146.20 million during the quarter, compared to analyst estimates of 146.98 million. The firm’s quarterly revenue was up 53.4% compared to the same quarter last year. On average, research analysts expect that Oatly Group will post -0.36 EPS for the current year.

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, crème fraiche products, whipping creams, vanilla custards, and spreads in a variety of flavors.

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Analyst Recommendations for Oatly Group (NASDAQ:OTLY)

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