Oatly Group (NASDAQ:OTLY) Shares Gap Down to $1.16

Oatly Group AB (NASDAQ:OTLY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $1.16, but opened at $1.04. Oatly Group shares last traded at $1.12, with a volume of 1,417,925 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OTLY shares. DA Davidson assumed coverage on shares of Oatly Group in a research note on Friday, March 1st. They issued a “buy” rating and a $1.50 price target on the stock. Morgan Stanley restated an “equal weight” rating and issued a $1.25 price target on shares of Oatly Group in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada upped their target price on Oatly Group from $0.63 to $1.05 and gave the company a “sector perform” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.11.

Oatly Group Stock Down 6.0 %

The company’s 50 day simple moving average is $1.09 and its two-hundred day simple moving average is $1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.75.

Oatly Group (NASDAQ:OTLY) last released its earnings results on Tuesday, April 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $199.16 million during the quarter, compared to the consensus estimate of $198.43 million. Oatly Group had a negative return on equity of 41.06% and a negative net margin of 49.19%. During the same period in the previous year, the company posted ($0.13) EPS. Equities research analysts anticipate that Oatly Group AB will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oatly Group

Several institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in Oatly Group during the 1st quarter worth approximately $998,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Oatly Group by 144.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,038 shares of the company’s stock worth $227,000 after acquiring an additional 118,886 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Oatly Group in the 4th quarter valued at about $44,000. CastleKnight Management LP raised its position in shares of Oatly Group by 430.8% during the 4th quarter. CastleKnight Management LP now owns 1,527,700 shares of the company’s stock worth $1,803,000 after acquiring an additional 1,239,874 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Oatly Group in the fourth quarter valued at approximately $32,000. 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.