Oatly Group (NASDAQ:OTLY) Shares Gap Down – Here’s What Happened

Oatly Group AB (NASDAQ:OTLY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $9.90, but opened at $9.60. Oatly Group shares last traded at $9.30, with a volume of 87,099 shares traded.

Wall Street Analyst Weigh In

Separately, Barclays decreased their target price on Oatly Group from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Oatly Group Price Performance

The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of -12.58 and a beta of 1.96. The company has a 50-day moving average price of $12.60 and a 200-day moving average price of $15.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.47 and a current ratio of 0.62.

Hedge Funds Weigh In On Oatly Group

Several institutional investors and hedge funds have recently modified their holdings of OTLY. Sanctuary Advisors LLC acquired a new position in shares of Oatly Group in the 2nd quarter valued at approximately $41,000. Privium Fund Management B.V. acquired a new position in shares of Oatly Group in the 3rd quarter valued at approximately $60,000. GSA Capital Partners LLP grew its position in shares of Oatly Group by 3.6% in the 3rd quarter. GSA Capital Partners LLP now owns 2,264,754 shares of the company’s stock valued at $1,935,000 after purchasing an additional 78,831 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Oatly Group by 19.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,895,635 shares of the company’s stock valued at $6,746,000 after purchasing an additional 1,292,592 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Oatly Group by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,701,722 shares of the company’s stock valued at $6,580,000 after purchasing an additional 358,978 shares during the period. 68.15% of the stock is currently owned by institutional investors and hedge funds.

About Oatly Group

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.