Shares of Oatly Group AB (NASDAQ:OTLY – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 3,701,810 shares traded hands during trading, an increase of 111% from the previous session’s volume of 1,757,682 shares.The stock last traded at $0.85 and had previously closed at $0.83.
Analysts Set New Price Targets
OTLY has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $1.05 target price on shares of Oatly Group in a research note on Thursday, July 25th. BNP Paribas upgraded Oatly Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.96.
View Our Latest Report on OTLY
Oatly Group Stock Performance
Oatly Group (NASDAQ:OTLY – Get Free Report) last posted its earnings results 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 return on equity of 35.74% and a negative net margin of 41.71%. The business had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $200.66 million. As a group, equities research analysts expect that Oatly Group AB will post -0.26 EPS for the current year.
Hedge Funds Weigh In On Oatly Group
A number of large investors have recently modified their holdings of the company. PFG Investments LLC grew its position in Oatly Group by 182.3% during the second quarter. PFG Investments LLC now owns 30,390 shares of the company’s stock valued at $29,000 after acquiring an additional 19,625 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Oatly Group during the fourth quarter valued at about $44,000. Sanctuary Advisors LLC purchased a new position in Oatly Group in the 2nd quarter worth approximately $41,000. SG Americas Securities LLC bought a new stake in Oatly Group during the 2nd quarter valued at $75,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Oatly Group by 144.7% in 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 last quarter. 68.15% of the stock is owned by hedge funds and other institutional investors.
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.
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