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

Oatly Group (NASDAQ:OTLY – Get Rating) issued its earnings results on Wednesday. The company reported ($0.21) EPS 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 business had revenue of $195.10 million for the quarter, compared to analysts’ expectations of $181.07 million. During the same quarter in the prior year, the business posted ($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 Stock Up 1.9 %

Shares of OTLY stock opened at $2.17 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of -3.74 and a beta of 0.78. The company’s fifty day simple moving average is $2.33 and its two-hundred 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. Oatly Group has a 52 week low of $1.28 and a 52 week high of $5.80.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cowen reduced 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 price target on shares of Oatly Group in a research note on Thursday. Mizuho upgraded shares of Oatly Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.50 to $6.00 in a research report on Wednesday, January 18th. Cowen reduced their price objective on Oatly Group from $5.00 to $3.00 in a research note on Monday, November 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $7.00 price target on shares of Oatly Group in a research report on Monday.

Institutional Investors Weigh In On Oatly Group

Several large investors have recently made changes to their positions in OTLY. FMR LLC increased its stake in Oatly Group by 22.9% in the 2nd quarter. FMR LLC now owns 5,737,705 shares of the company’s stock worth $19,852,000 after acquiring an additional 1,068,922 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Oatly Group by 1,099.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,419,290 shares of the company’s stock worth $17,130,000 after buying an additional 3,134,320 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Oatly Group during the 4th quarter valued at about $4,208,000. Two Sigma Investments LP lifted its holdings in shares of Oatly Group by 51.2% in the 4th quarter. Two Sigma Investments LP now owns 1,591,666 shares of the company’s stock valued at $2,769,000 after acquiring an additional 538,956 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in Oatly Group during the fourth quarter worth approximately $2,349,000. 20.51% of the stock is owned by 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.