Oatly Group (NASDAQ:OTLY) Issues Earnings Results

Oatly Group (NASDAQ:OTLY – Get Rating) announced its earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07), Briefing.com reports. The company had revenue of $195.10 million for the quarter, compared to the consensus estimate of $181.07 million. Oatly Group had a negative return on equity of 32.36% and a negative net margin of 48.68%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) EPS. 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. Oatly Group has a one year low of $1.28 and a one year high of $5.80. The stock has a fifty day moving average price of $2.33 and a 200 day moving average price of $2.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 1.18.

Analysts Set New Price Targets

Several research firms have recently weighed in on OTLY. Cowen reduced their price objective on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st. Mizuho raised Oatly Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.50 to $6.00 in a research report on Wednesday, January 18th. Piper Sandler increased their price objective on Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Credit Suisse Group reissued a “neutral” rating and issued a $3.30 price objective on shares of Oatly Group in a research report on Thursday. Finally, Cowen reduced their price objective on Oatly Group from $5.00 to $3.00 in a research report on Monday, November 21st.

Hedge Funds Weigh In On Oatly Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. bought a new position in shares of Oatly Group during the 4th quarter valued at about $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Oatly Group by 230.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 19,809 shares of the company’s stock worth $35,000 after acquiring an additional 13,809 shares during the last quarter. Mariner LLC increased its holdings in shares of Oatly Group by 64.8% during the 4th quarter. Mariner LLC now owns 20,497 shares of the company’s stock worth $36,000 after acquiring an additional 8,059 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Oatly Group during the 1st quarter worth approximately $55,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Oatly Group during the 1st quarter worth approximately $55,000. Institutional investors 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.