Oatly Group (NASDAQ:OTLY) Shares Gap Down – Time to Sell?

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 trading hands.

Analyst Ratings Changes

Separately, Barclays cut their price target on Oatly Group from $40.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Oatly Group presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Oatly Group Stock Performance

The firm has a 50 day moving average price of $12.49 and a 200 day moving average price of $15.12. The company has a quick ratio of 0.44, a current ratio of 0.56 and a debt-to-equity ratio of 1.39. The stock has a market cap of $256.74 million, a PE ratio of -1.27 and a beta of 1.96.

Hedge Funds Weigh In On Oatly Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC grew its stake in Oatly Group by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 55,778 shares of the company’s stock valued at $48,000 after purchasing an additional 14,116 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Oatly Group by 60.6% in the fourth quarter. Van ECK Associates Corp now owns 56,689 shares of the company’s stock worth $38,000 after acquiring an additional 21,387 shares in the last quarter. Rhumbline Advisers boosted its holdings in Oatly Group by 76.1% in the fourth quarter. Rhumbline Advisers now owns 63,477 shares of the company’s stock worth $42,000 after acquiring an additional 27,428 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in Oatly Group by 5.9% in the fourth quarter. Green Alpha Advisors LLC now owns 686,776 shares of the company’s stock worth $455,000 after acquiring an additional 38,363 shares in the last quarter. Finally, Performa Ltd US LLC boosted its holdings in Oatly Group by 36.8% in the fourth quarter. Performa Ltd US LLC now owns 145,000 shares of the company’s stock worth $96,000 after acquiring an additional 39,000 shares in the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.

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.