Oatly Group (NASDAQ:OTLY) Trading Down 2.4%

Shares of Oatly Group AB (NASDAQ:OTLY) dropped 2.4% during trading on Thursday . The company traded as low as $0.94 and last traded at $0.94. Approximately 582,440 shares changed 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.

Analyst Ratings Changes

OTLY has been the topic 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 report on Thursday, July 25th. BNP Paribas upgraded Oatly Group from a “neutral” rating to an “outperform” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Oatly Group has an average rating of “Moderate Buy” and a consensus target price of $1.96.

Oatly Group Trading Down 2.5 %

The business’s 50 day moving average price is $0.94 and its 200-day moving average price is $1.01. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On Oatly Group

Hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance purchased a new position in Oatly Group during the fourth quarter worth $28,000. PFG Investments LLC increased its position in Oatly Group by 182.3% during the 2nd quarter. PFG Investments LLC now owns 30,390 shares of the company’s stock worth $29,000 after purchasing an additional 19,625 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Oatly Group in the 2nd quarter valued at about $41,000. Quadrature Capital Ltd purchased a new position in Oatly Group in the 4th quarter valued at about $44,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Oatly Group during the 2nd quarter worth about $75,000. 68.15% of the stock is currently 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.