Oatly Group (NASDAQ:OTLY) Announces Quarterly Earnings Results

Oatly Group (NASDAQ:OTLY – Get Rating) issued its quarterly earnings data on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07), Briefing.com reports. Oatly Group had a negative net margin of 48.68% and a negative return on equity of 32.36%. The company had revenue of $195.10 million for the quarter, compared to the consensus estimate of $181.07 million. During the same period in the previous year, the business earned ($0.13) EPS. Oatly Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. Oatly Group updated its FY 2023 guidance to EPS.

Oatly Group Price Performance

Oatly Group stock opened at $2.15 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.18 and a current ratio of 1.56. The stock has a market capitalization of $1.27 billion, a P/E ratio of -3.71 and a beta of 0.78. Oatly Group has a 1 year low of $1.28 and a 1 year high of $5.80. The company’s fifty day moving average price is $2.33 and its 200 day moving average price is $2.24.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OTLY. Cowen dropped their target price on Oatly Group from $5.00 to $3.00 in a research note on Monday, November 21st. Cowen reduced their target price on Oatly Group from $5.00 to $3.00 in a research note on Monday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price target on shares of Oatly Group in a research report on Monday. Mizuho upgraded shares of Oatly Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2.50 to $6.00 in a research note on Wednesday, January 18th. Finally, Piper Sandler lifted their price objective on Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th.

Institutional Investors Weigh In On Oatly Group

Several large investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its stake in shares of Oatly Group by 163.9% in the first quarter. Penserra Capital Management LLC now owns 40,378 shares of the company’s stock worth $201,000 after acquiring an additional 25,078 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Oatly Group during the 2nd quarter valued at about $146,000. XTX Topco Ltd purchased a new position in Oatly Group during the first quarter worth about $146,000. Ensign Peak Advisors Inc grew its stake in shares of Oatly Group by 48.1% in the 1st quarter. Ensign Peak Advisors Inc now owns 26,854 shares of the company’s stock valued at $135,000 after buying an additional 8,716 shares during the period. Finally, Vident Investment Advisory LLC increased its stake in Oatly Group by 21.6% during the fourth quarter. Vident Investment Advisory LLC now owns 50,031 shares of the company’s stock worth $87,000 after acquiring an additional 8,883 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

About Oatly Group

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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.