Oatly Group (NASDAQ:OTLY – Get Rating) announced its quarterly earnings data on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07), Briefing.com reports. Oatly Group had a negative return on equity of 32.36% and a negative net margin of 48.68%. The firm had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $181.07 million. During the same period last year, the business posted ($0.13) EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Oatly Group updated its FY 2023 guidance to EPS.
Oatly Group Price Performance
Shares of OTLY traded up $0.17 during trading hours on Friday, reaching $2.34. 2,863,034 shares of the stock traded hands, compared to its average volume of 5,067,269. The company has a market cap of $1.39 billion, a P/E ratio of -3.90 and a beta of 0.78. The company has a current ratio of 1.56, a quick ratio of 1.18 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $2.24. Oatly Group has a 52-week low of $1.28 and a 52-week high of $5.80.
Analysts Set New Price Targets
Several brokerages have commented on OTLY. Piper Sandler raised their price target on shares of Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Cowen decreased their price target on shares of Oatly Group from $5.00 to $3.00 in a research note on Monday, November 21st. Credit Suisse Group restated a “neutral” rating and set a $3.30 target price on shares of Oatly Group in a report on Thursday. Cowen decreased their price objective on shares of Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Finally, Mizuho upgraded Oatly Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.50 to $6.00 in a report on Wednesday, January 18th.
Hedge Funds Weigh In On Oatly Group
About Oatly Group
Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.
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