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

Oatly Group (NASDAQ:OTLY – Get Rating) posted 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 return on equity of 32.36% and a negative net margin of 48.68%. The business had revenue of $195.10 million for the quarter, compared to analyst estimates of $181.07 million. During the same period in the prior year, the firm posted ($0.13) EPS. Oatly Group’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 Trading Up 1.9 %

Oatly Group stock opened at $2.17 on Friday. Oatly Group has a 12 month low of $1.28 and a 12 month high of $5.80. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -3.74 and a beta of 0.78. The business has a 50 day moving average price of $2.33 and a two-hundred day moving average price of $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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OTLY shares. Credit Suisse Group reissued a “neutral” rating and set a $3.30 price objective on shares of Oatly Group in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price objective on shares of Oatly Group in a research report on Monday. Mizuho raised Oatly Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $6.00 in a research report on Wednesday, January 18th. Piper Sandler upped their price target on Oatly Group from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Finally, Cowen cut their price target on Oatly Group from $5.00 to $3.00 in a report on Monday, November 21st.

Institutional Investors Weigh In On Oatly Group

Several large investors have recently modified their holdings of OTLY. Envestnet Asset Management Inc. grew its stake in shares of Oatly Group by 14.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,467 shares of the company’s stock valued at $283,000 after purchasing an additional 7,103 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Oatly Group by 7.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 117,589 shares of the company’s stock worth $589,000 after acquiring an additional 7,823 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Oatly Group during the 1st quarter worth approximately $55,000. Integrated Wealth Concepts LLC bought a new stake in Oatly Group during the 1st quarter worth approximately $55,000. Finally, BlackRock Inc. grew its position in Oatly Group by 31.1% during the 1st quarter. BlackRock Inc. now owns 63,066 shares of the company’s stock worth $316,000 after acquiring an additional 14,969 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

Oatly Group Company Profile

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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.