Piper Sandler Has Lowered Expectations for Oatly Group (NASDAQ:OTLY) Stock Price

Oatly Group (NASDAQ:OTLY) had its target price dropped by research analysts at Piper Sandler from $40.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 76.21% from the company’s current price.

Separately, Barclays lifted their price target on shares of Oatly Group from $1.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th.

Oatly Group Stock Performance

Shares of NASDAQ:OTLY opened at $9.08 on Wednesday. Oatly Group has a 12-month low of $6.00 and a 12-month high of $26.80. The company’s 50 day moving average price is $11.58 and its two-hundred day moving average price is $14.42. The firm has a market cap of $270.16 million, a PE ratio of -1.34 and a beta of 1.97. The company has a quick ratio of 0.44, a current ratio of 0.56 and a debt-to-equity ratio of 1.39.

Hedge Funds Weigh In On Oatly Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Portolan Capital Management LLC raised its position in shares of Oatly Group by 66.8% in the 4th quarter. Portolan Capital Management LLC now owns 7,915,716 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,169,805 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Oatly Group by 19.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,895,635 shares of the company’s stock worth $6,746,000 after purchasing an additional 1,292,592 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Oatly Group by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,701,722 shares of the company’s stock worth $6,580,000 after purchasing an additional 358,978 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Oatly Group in the fourth quarter worth approximately $1,522,000. Finally, GSA Capital Partners LLP lifted its stake in Oatly Group by 3.6% in the third quarter. GSA Capital Partners LLP now owns 2,264,754 shares of the company’s stock valued at $1,935,000 after buying an additional 78,831 shares during the period. Institutional investors and hedge funds own 68.15% of the company’s stock.

Oatly Group Company Profile

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.