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

Oatly Group AB (NASDAQ:OTLY) gapped up prior to trading 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OTLY shares. DA Davidson started coverage on Oatly Group in a report on Friday, March 1st. They issued a “buy” rating and a $1.50 target price on the stock. Royal Bank of Canada lifted their price target on Oatly Group from $0.63 to $1.05 and gave the company a “sector perform” rating in a report on Friday, February 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $1.25 price target on shares of Oatly Group in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.11.

Oatly Group Stock Up 15.0 %

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

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

Hedge Funds Weigh In On Oatly Group

Several large investors have recently made changes to their positions in OTLY. Massachusetts Financial Services Co. MA lifted 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 worth $15,201,000 after purchasing an additional 2,986,805 shares during the last quarter. Pathstone Family Office LLC lifted its position 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 purchasing an additional 45,775 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of Oatly Group during the 3rd quarter worth about $43,000. IPG Investment Advisors LLC lifted its position in shares of Oatly Group by 32.1% during the 3rd quarter. IPG Investment Advisors LLC now owns 453,000 shares of the company’s stock worth $406,000 after purchasing an additional 110,000 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Oatly Group during the 3rd quarter worth about $68,000. 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.