Oatly Group (NASDAQ:OTLY) Trading 0.6% Higher – Should You Buy?

Oatly Group AB (NASDAQ:OTLY) shares rose 0.6% on Friday . The company traded as high as $8.90 and last traded at $8.62. Approximately 117,060 shares changed hands during trading, a decline of 17% from the average daily volume of 140,774 shares. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Oatly Group from $40.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Barclays upped their price target on Oatly Group from $1.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, Mizuho reduced their price objective on Oatly Group from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Oatly Group Stock Up 0.6 %

The business has a fifty day moving average of $9.10 and a 200 day moving average of $12.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.56 and a quick ratio of 0.44. The stock has a market capitalization of $257.98 million, a price-to-earnings ratio of -1.27 and a beta of 1.89.

Hedge Funds Weigh In On Oatly Group

Hedge funds have recently modified their holdings of the business. Portolan Capital Management LLC lifted its position in Oatly Group by 66.8% in the fourth quarter. Portolan Capital Management LLC now owns 7,915,716 shares of the company’s stock valued at $5,247,000 after buying an additional 3,169,805 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Oatly Group in the 4th quarter worth approximately $1,522,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Oatly Group during the 4th quarter worth approximately $1,259,000. Marshall Wace LLP raised its position in Oatly Group by 2,169.1% in the fourth quarter. Marshall Wace LLP now owns 1,433,468 shares of the company’s stock valued at $946,000 after purchasing an additional 1,370,295 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Oatly Group by 279.6% during the fourth quarter. Two Sigma Investments LP now owns 144,348 shares of the company’s stock worth $96,000 after purchasing an additional 106,319 shares in the last quarter. 68.15% of the stock is currently owned by hedge funds and other institutional investors.

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.