Oatly Group (NASDAQ:OTLY) Shares Gap Up on Earnings Beat

Oatly Group AB (NASDAQ:OTLY) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. 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.

The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business 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 36.51%. During the same period in the previous year, the company posted ($0.13) earnings per share.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Oatly Group

A number of large investors have recently bought and sold shares of the company. Performa Ltd US LLC boosted its position in Oatly Group by 17.1% in the fourth quarter. Performa Ltd US LLC now owns 105,500 shares of the company’s stock valued at $124,000 after buying an additional 15,440 shares during the last quarter. Independent Advisor Alliance purchased a new stake in Oatly Group in the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Oatly Group in the fourth quarter valued at approximately $32,000. Quadrature Capital Ltd purchased a new stake in Oatly Group in the fourth quarter valued at approximately $44,000. Finally, SG Americas Securities LLC boosted its position in Oatly Group by 150.7% in the fourth quarter. SG Americas Securities LLC now owns 67,489 shares of the company’s stock valued at $80,000 after buying an additional 40,566 shares during the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.

Oatly Group Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 0.83 and a quick ratio of 0.71. The company has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.00.

About Oatly Group

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.