Oatly Group (NASDAQ:OTLY) Sees Unusually-High Trading Volume – Here’s Why

Oatly Group AB (NASDAQ:OTLY) saw strong trading volume on Wednesday . 241,178 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 212,146 shares.The stock last traded at $9.90 and had previously closed at $8.68.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their price target on shares of Oatly Group from $40.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Oatly Group currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Oatly Group Stock Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.44 and a current ratio of 0.56. The firm’s 50 day simple moving average is $12.60 and its 200-day simple moving average is $15.16. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -25.63 and a beta of 1.96.

Institutional Investors Weigh In On Oatly Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of Oatly Group by 60.6% during the 4th quarter. Van ECK Associates Corp now owns 56,689 shares of the company’s stock valued at $38,000 after acquiring an additional 21,387 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Oatly Group during the 2nd quarter valued at about $41,000. Two Sigma Advisers LP acquired a new position in shares of Oatly Group during the 4th quarter valued at about $41,000. Rhumbline Advisers boosted its position in shares of Oatly Group by 76.1% during the 4th quarter. Rhumbline Advisers now owns 63,477 shares of the company’s stock valued at $42,000 after acquiring an additional 27,428 shares during the last quarter. Finally, Privium Fund Management B.V. acquired a new position in shares of Oatly Group during the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 68.15% of the company’s stock.

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.