Renaissance Technologies LLC Decreases Stake in Oatly Group AB (NASDAQ:OTLY)

Renaissance Technologies LLC cut its holdings in shares of Oatly Group AB (NASDAQ:OTLY) by 5.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 919,200 shares of the company’s stock after selling 51,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Oatly Group were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Oatly Group by 60.6% in the 4th quarter. Van ECK Associates Corp now owns 56,689 shares of the company’s stock worth $38,000 after purchasing an additional 21,387 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Oatly Group by 76.1% in the 4th quarter. Rhumbline Advisers now owns 63,477 shares of the company’s stock worth $42,000 after acquiring an additional 27,428 shares during the last quarter. Green Alpha Advisors LLC grew its stake in shares of Oatly Group by 5.9% during the fourth quarter. Green Alpha Advisors LLC now owns 686,776 shares of the company’s stock valued at $455,000 after buying an additional 38,363 shares during the last quarter. Performa Ltd US LLC increased its stake in Oatly Group by 36.8% in the 4th quarter. Performa Ltd US LLC now owns 145,000 shares of the company’s stock worth $96,000 after purchasing an additional 39,000 shares during the period. Finally, Geode Capital Management LLC lifted its position in Oatly Group by 463.2% in the fourth quarter. Geode Capital Management LLC now owns 94,353 shares of the company’s stock valued at $63,000 after purchasing an additional 77,600 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.

Oatly Group Stock Down 4.4 %

OTLY stock opened at $10.74 on Friday. The business has a 50 day moving average of $9.32 and a 200 day moving average of $11.95. The firm has a market cap of $321.43 million, a PE ratio of -1.58 and a beta of 1.89. Oatly Group AB has a twelve month low of $6.00 and a twelve month high of $26.80. The company has a quick ratio of 0.44, a current ratio of 0.56 and a debt-to-equity ratio of 1.39.

Oatly Group (NASDAQ:OTLY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.45. The firm had revenue of $197.53 million during the quarter, compared to the consensus estimate of $199.97 million. Oatly Group had a negative return on equity of 70.33% and a negative net margin of 24.52%. On average, research analysts forecast that Oatly Group AB will post -3.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Oatly Group from $1.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Piper Sandler cut their price objective on Oatly Group from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Mizuho set a $24.00 price target on shares of Oatly Group in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.75.

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.