Oatly Group (NASDAQ:OTLY) Stock Price Down 2.4%

Shares of Oatly Group AB (NASDAQ:OTLY) were down 2.4% on Thursday . The company traded as low as $0.94 and last traded at $0.94. Approximately 582,440 shares traded hands during trading, a decline of 65% from the average daily volume of 1,677,310 shares. The stock had previously closed at $0.96.

Wall Street Analyst Weigh In

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

Oatly Group Stock Down 3.4 %

The stock has a market capitalization of $553.41 million, a PE ratio of -1.18 and a beta of 2.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.68 and a quick ratio of 0.53. The business’s fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.01.

Oatly Group (NASDAQ:OTLY) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $200.66 million. On average, equities research analysts forecast that Oatly Group AB will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Oatly Group

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of Oatly Group during the 1st quarter valued at about $998,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Oatly Group by 144.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,038 shares of the company’s stock valued at $227,000 after buying an additional 118,886 shares in the last quarter. CastleKnight Management LP grew its stake in Oatly Group by 430.8% in the 4th quarter. CastleKnight Management LP now owns 1,527,700 shares of the company’s stock valued at $1,803,000 after acquiring an additional 1,239,874 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Oatly Group by 14.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,603,043 shares of the company’s stock worth $6,207,000 after acquiring an additional 834,947 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Oatly Group during the second quarter worth $75,000. 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.