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

Oatly Group AB (NASDAQ:OTLY) 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 changing hands.

Analyst Upgrades and Downgrades

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

Oatly Group Price Performance

The stock has a fifty day moving average of $12.60 and a 200-day moving average of $15.16. The company has a quick ratio of 0.47, a current ratio of 0.62 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $5.17 billion, a P/E ratio of -12.58 and a beta of 1.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Oatly Group by 19.6% in the third 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 buying an additional 1,292,592 shares during the last quarter. Jane Street Group LLC increased its position in Oatly Group by 134.8% in the third quarter. Jane Street Group LLC now owns 143,256 shares of the company’s stock worth $128,000 after purchasing an additional 82,242 shares during the period. Massachusetts Financial Services Co. MA increased its position in Oatly Group by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,701,722 shares of the company’s stock worth $6,580,000 after purchasing an additional 358,978 shares during the period. Sanctuary Advisors LLC acquired a new stake in Oatly Group in the second quarter worth about $41,000. Finally, GSA Capital Partners LLP increased its position in Oatly Group by 3.6% in the third quarter. GSA Capital Partners LLP now owns 2,264,754 shares of the company’s stock worth $1,935,000 after purchasing an additional 78,831 shares during the period. 68.15% of the stock is owned by institutional investors.

Oatly Group Company Profile

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.