Oatly Group (NASDAQ:OTLY) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Oatly Group (NASDAQ:OTLY – Get Rating) released 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 net margin of 48.68% and a negative return on equity of 32.36%. The firm had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $181.07 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Oatly Group updated its FY 2023 guidance to EPS.

Oatly Group Price Performance

OTLY stock opened at $2.13 on Friday. Oatly Group has a 52-week low of $1.28 and a 52-week high of $5.80. The stock’s fifty day simple moving average is $2.33 and its 200-day simple moving average is $2.24. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.67 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cowen lowered their target price on Oatly Group from $5.00 to $3.00 in a report on Monday, November 21st. Cowen lowered their target price on Oatly Group from $5.00 to $3.00 in a report on Monday, November 21st. Mizuho upgraded Oatly Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.50 to $6.00 in a report on Wednesday, January 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $7.00 target price on shares of Oatly Group in a report on Monday. Finally, Piper Sandler increased their target price on Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th.

Institutional Investors Weigh In On Oatly Group

Several hedge funds have recently made changes to their positions in OTLY. Envestnet Asset Management Inc. boosted its holdings in shares of Oatly Group by 14.4% during the first quarter. Envestnet Asset Management Inc. now owns 56,467 shares of the company’s stock worth $283,000 after purchasing an additional 7,103 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Oatly Group by 7.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 117,589 shares of the company’s stock worth $589,000 after purchasing an additional 7,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Oatly Group in the first quarter valued at $55,000. Integrated Wealth Concepts LLC acquired a new position in Oatly Group in the first quarter valued at $55,000. Finally, BlackRock Inc. boosted its holdings in Oatly Group by 31.1% in the first quarter. BlackRock Inc. now owns 63,066 shares of the company’s stock valued at $316,000 after acquiring an additional 14,969 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.