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.

Analyst Upgrades and Downgrades

Separately, Barclays reduced their price target on Oatly Group from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Oatly Group Stock Performance

The firm has a 50-day moving average of $12.49 and a two-hundred day moving average 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 company has a market capitalization of $256.74 million, a PE ratio of -1.27 and a beta of 1.96.

Institutional Trading of Oatly Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Portolan Capital Management LLC increased its position in shares of Oatly Group by 66.8% during the fourth quarter. Portolan Capital Management LLC now owns 7,915,716 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,169,805 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Oatly Group during the fourth quarter worth $1,522,000. Intrinsic Edge Capital Management LLC acquired a new position in Oatly Group during the fourth quarter worth $1,259,000. Marshall Wace LLP boosted its stake in Oatly Group by 2,169.1% during the fourth quarter. Marshall Wace LLP now owns 1,433,468 shares of the company’s stock worth $946,000 after buying an additional 1,370,295 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Oatly Group by 19.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,895,635 shares of the company’s stock worth $6,746,000 after buying an additional 1,292,592 shares during the last quarter. 68.15% of the stock is currently owned by hedge funds and other institutional investors.

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.