Oatly Group (NASDAQ:OTLY) Stock Breaks Below 200 Day Moving Average After Earnings Miss

Key Points

• Oatly’s shares fell below their 200-day moving average after trading as low as $8.02, with the stock down 27.1% and last trading near $8.56.
• The company reported quarterly EPS of -$0.86, missing the $0.80 loss analysts expected, while revenue of $243.05 million slightly exceeded forecasts of $241.73 million.
• Analysts maintain a mixed outlook, resulting in an average “Hold” rating and a $14.39 price target; institutional investors own 68.15% of Oatly’s shares.

Shares of Oatly Group AB Sponsored ADR (NASDAQ:OTLY - Get Free Report) passed below its 200-day moving average during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock has a 200-day moving average of $11.35 and traded as low as $8.02. Oatly Group shares last traded at $8.56, with a volume of 1,261,919 shares trading hands.

The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.06). The firm had revenue of $243.05 million during the quarter, compared to analysts' expectations of $241.73 million. Oatly Group had a negative return on equity of 2,479.86% and a negative net margin of 13.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OTLY shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Oatly Group in a report on Monday, September 21st. Barclays set a $13.00 price objective on Oatly Group and gave the stock an "overweight" rating in a research note on Friday, October 16th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.39.

Institutional Investors Weigh In On Oatly Group

Several institutional investors and hedge funds have recently modified their holdings of OTLY. Renaissance Technologies LLC lifted its stake in Oatly Group by 74.5% in the 1st quarter. Renaissance Technologies LLC now owns 51,513 shares of the company's stock worth $522,000 after purchasing an additional 22,000 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Oatly Group during the second quarter valued at about $518,000. Maven Securities LTD purchased a new position in shares of Oatly Group during the second quarter valued at about $426,000. R Squared Ltd grew its position in shares of Oatly Group by 77.1% during the first quarter. R Squared Ltd now owns 25,609 shares of the company's stock valued at $260,000 after purchasing an additional 11,145 shares in the last quarter. Finally, Performa Ltd US LLC increased its holdings in shares of Oatly Group by 12.9% in the second quarter. Performa Ltd US LLC now owns 11,400 shares of the company's stock worth $107,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 68.15% of the company's stock.

Oatly Group Stock Down 27.1%

The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 43.43. The stock has a market capitalization of $273.17 million, a P/E ratio of -2.07 and a beta of 1.81. The company has a fifty day moving average price of $12.44 and a 200-day moving average price of $11.35.

Oatly Group Company Profile

Oatly Group AB is a Sweden-based food and beverage company focused on developing, producing and selling oat-based alternatives to dairy products. Its portfolio includes oat drinks, barista beverages, yogurt-style products, cooking creams, spreads, ice cream and other oat-based foods and beverages.

The company was founded in the 1990s in Sweden, based on research into the nutritional and functional properties of oats. Oatly markets its products under the Oatly brand and emphasizes plant-based nutrition, sustainability and the use of oats as an alternative to dairy ingredients.

Oatly sells its products through grocery retailers, foodservice operators, cafés and e-commerce channels across Europe, North America and parts of Asia.

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