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

Oatly Group AB (NASDAQ:OTLY - Get Free Report)'s share price gapped up before the market opened 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.

Analysts Set New Price Targets

OTLY has been the topic of several analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $1.25 target price on shares of Oatly Group in a report on Tuesday, February 20th. Royal Bank of Canada raised their target price on Oatly Group from $0.63 to $1.05 and gave the stock a "sector perform" rating in a report on Friday, February 16th. Finally, DA Davidson started coverage on Oatly Group in a report on Friday, March 1st. They set a "buy" rating and a $1.50 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.11.

Oatly Group Stock Up 15.0 %

The company has a market cap of $684.32 million, a PE ratio of -1.35 and a beta of 2.29. The business has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.00. 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 issued its earnings results on Thursday, February 15th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). The business had revenue of $204.12 million during the quarter, compared to analyst estimates of $191.80 million. Oatly Group had a negative net margin of 53.22% and a negative return on equity of 37.94%. Equities research analysts anticipate that Oatly Group AB will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Oatly Group by 21.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,963,225 shares of the company's stock valued at $15,201,000 after purchasing an additional 2,986,805 shares during the period. BNP Paribas Asset Management Holding S.A. boosted its stake in shares of Oatly Group by 72.0% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 6,024,369 shares of the company's stock valued at $7,109,000 after purchasing an additional 2,521,847 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Oatly Group by 56.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,502,522 shares of the company's stock valued at $3,139,000 after purchasing an additional 1,257,812 shares during the period. CastleKnight Management LP boosted its stake in shares of Oatly Group by 430.8% in the fourth quarter. CastleKnight Management LP now owns 1,527,700 shares of the company's stock valued at $1,803,000 after purchasing an additional 1,239,874 shares during the period. Finally, Green Alpha Advisors LLC boosted its stake in shares of Oatly Group by 199.1% in the fourth quarter. Green Alpha Advisors LLC now owns 636,937 shares of the company's stock valued at $752,000 after purchasing an additional 423,971 shares during the period. Hedge funds and other institutional investors 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.