Oatly Group (NASDAQ:OTLY) Shares Gap Up to $0.85

Shares of Oatly Group AB (NASDAQ:OTLY) gapped up prior to trading on Tuesday . The stock had previously closed at $0.85, but opened at $0.87. Oatly Group shares last traded at $0.88, with a volume of 216,672 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OTLY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $1.05 price objective on shares of Oatly Group in a research note on Thursday, July 25th. BNP Paribas upgraded shares of Oatly Group from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1.96.

Oatly Group Trading Down 0.4 %

The company has a market cap of $506.46 million, a P/E ratio of -1.07 and a beta of 2.10. The firm has a 50-day moving average of $0.92 and a 200 day moving average of $1.00. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.62.

Oatly Group (NASDAQ:OTLY) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. Oatly Group had a negative net margin of 41.71% and a negative return on equity of 35.74%. The company had revenue of $202.20 million during the quarter, compared to the consensus estimate of $200.66 million. On average, analysts predict that Oatly Group AB will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oatly Group

Several institutional investors have recently made changes to their positions in the stock. PFG Investments LLC grew its stake in shares of Oatly Group by 182.3% in the 2nd quarter. PFG Investments LLC now owns 30,390 shares of the company’s stock valued at $29,000 after buying an additional 19,625 shares during the period. Sanctuary Advisors LLC bought a new position in Oatly Group in the second quarter worth approximately $41,000. Quadrature Capital Ltd bought a new stake in shares of Oatly Group during the fourth quarter valued at approximately $44,000. SG Americas Securities LLC acquired a new position in shares of Oatly Group during the second quarter worth approximately $75,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Oatly Group by 144.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,038 shares of the company’s stock worth $227,000 after purchasing an additional 118,886 shares during the period. 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.