Oatly Group (NASDAQ:OTLY) Price Target Raised to $10.00

Oatly Group (NASDAQ:OTLY) had its price target upped by stock analysts at Barclays from $1.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 45.24% from the stock’s previous close.

Oatly Group Stock Down 5.4 %

Shares of OTLY stock traded down $0.40 during trading hours on Tuesday, reaching $6.89. The company had a trading volume of 226,541 shares, compared to its average volume of 239,915. The company has a market capitalization of $204.85 million, a P/E ratio of -1.01 and a beta of 1.96. The stock’s fifty day simple moving average is $12.14 and its 200 day simple moving average is $14.89. Oatly Group has a twelve month low of $6.00 and a twelve month high of $26.80. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.44 and a current ratio of 0.56.

Hedge Funds Weigh In On Oatly Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Portolan Capital Management LLC grew its holdings in Oatly Group by 66.8% during the 4th quarter. Portolan Capital Management LLC now owns 7,915,716 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,169,805 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Oatly Group in the fourth quarter valued at approximately $1,522,000. Intrinsic Edge Capital Management LLC bought a new stake in Oatly Group in the fourth quarter worth about $1,259,000. Marshall Wace LLP lifted its position in shares of Oatly Group by 2,169.1% during the 4th quarter. Marshall Wace LLP now owns 1,433,468 shares of the company’s stock valued at $946,000 after acquiring an additional 1,370,295 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Oatly Group by 19.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,895,635 shares of the company’s stock worth $6,746,000 after acquiring an additional 1,292,592 shares in the last quarter. 68.15% of the stock is 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.