Oatly Group (NASDAQ:OTLY) Shares Gap Up to $0.90

Oatly Group AB (NASDAQ:OTLY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $0.90, but opened at $0.95. Oatly Group shares last traded at $0.94, with a volume of 95,459 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson assumed coverage on Oatly Group in a research report on Friday, March 1st. They issued a "buy" rating and a $1.50 target price for the company. Royal Bank of Canada boosted their price target on Oatly Group from $0.63 to $1.05 and gave the stock a "sector perform" rating in a research note on Friday, February 16th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $1.25 price target on shares of Oatly Group in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $2.11.

Oatly Group Price Performance

The company has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $0.98. The stock has a market cap of $543.65 million, a price-to-earnings ratio of -1.07 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 - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Oatly Group had a negative net margin of 53.22% and a negative return on equity of 37.94%. The firm had revenue of $204.12 million for the quarter, compared to analyst estimates of $191.80 million. As a group, research analysts anticipate that Oatly Group AB will post -0.28 EPS for the current fiscal year.

Institutional Trading of Oatly Group

A number of institutional investors and hedge funds have recently made changes to their positions in OTLY. Envestnet Asset Management Inc. raised its position in shares of Oatly Group by 14.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 56,467 shares of the company's stock worth $283,000 after purchasing an additional 7,103 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Oatly Group by 7.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 117,589 shares of the company's stock worth $589,000 after purchasing an additional 7,823 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Oatly Group during the 1st quarter worth approximately $55,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Oatly Group during the 1st quarter worth approximately $55,000. Finally, BlackRock Inc. raised its position in shares of Oatly Group by 31.1% during the 1st quarter. BlackRock Inc. now owns 63,066 shares of the company's stock worth $316,000 after purchasing an additional 14,969 shares during the period. 68.15% of the stock is currently owned by institutional investors and hedge funds.

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.