Oatly Group (NASDAQ:OTLY) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Oatly Group (NASDAQ:OTLY) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

OTLY has been the subject of a number of other research reports. BNP Paribas Exane decreased their price target on Oatly Group from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Barclays restated an “overweight” rating and set a $10.00 price objective (down from $13.00) on shares of Oatly Group in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oatly Group in a research note on Monday, September 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.31.

Oatly Group Stock Performance

OTLY opened at $7.71 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 43.43. The firm has a market cap of $246.04 million, a PE ratio of -2.71 and a beta of 1.81. The business has a fifty day simple moving average of $12.06 and a 200-day simple moving average of $11.30. Oatly Group has a fifty-two week low of $7.38 and a fifty-two week high of $16.20.

Oatly Group (NASDAQ:OTLY) last announced its earnings results on Wednesday, October 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.05). Oatly Group had a negative return on equity of 37,610.93% and a negative net margin of 9.51%. The company had revenue of $243.05 million for the quarter, compared to analyst estimates of $241.75 million. As a group, equities analysts predict that Oatly Group will post -2.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Oatly Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Oatly Group in the second quarter worth $518,000. Maven Securities LTD purchased a new position in shares of Oatly Group during the second quarter valued at $426,000. Performa Ltd US LLC grew its holdings in shares of Oatly Group by 12.9% during the second quarter. Performa Ltd US LLC now owns 11,400 shares of the company’s stock valued at $107,000 after buying an additional 1,300 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Oatly Group by 74.5% during the first quarter. Renaissance Technologies LLC now owns 51,513 shares of the company’s stock valued at $522,000 after buying an additional 22,000 shares in the last quarter. Finally, R Squared Ltd raised its position in Oatly Group by 77.1% during the first quarter. R Squared Ltd now owns 25,609 shares of the company’s stock valued at $260,000 after buying an additional 11,145 shares during the period. 68.15% of the stock is currently owned by hedge funds and other institutional investors.

Oatly Group Company Profile

Oatly Group AB is a Sweden-based food and beverage company focused on developing, producing and selling oat-based alternatives to dairy products. Its portfolio includes oat drinks, barista beverages, yogurt-style products, cooking creams, spreads, ice cream and other oat-based foods and beverages.

The company was founded in the 1990s in Sweden, based on research into the nutritional and functional properties of oats. Oatly markets its products under the Oatly brand and emphasizes plant-based nutrition, sustainability and the use of oats as an alternative to dairy ingredients.

Oatly sells its products through grocery retailers, foodservice operators, cafés and e-commerce channels across Europe, North America and parts of Asia.