Barclays Lowers Oatly Group (NASDAQ:OTLY) Price Target to $1.00

Oatly Group (NASDAQ:OTLY) had its price objective dropped by equities researchers at Barclays from $2.00 to $1.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 88.64% from the stock’s previous close.

Oatly Group Price Performance

Shares of NASDAQ OTLY opened at $0.53 on Friday. The firm has a market cap of $315.44 million, a P/E ratio of -0.77 and a beta of 1.96. The business’s 50 day moving average is $0.64 and its 200-day moving average is $0.77. The company has a current ratio of 0.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.65. Oatly Group has a 1-year low of $0.30 and a 1-year high of $1.40.

Oatly Group’s stock is scheduled to reverse split on the morning of Tuesday, February 18th. The 1-20 reverse split was announced on Friday, January 31st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, February 17th.

Institutional Investors Weigh In On Oatly Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in Oatly Group by 60.6% during the fourth quarter. Van ECK Associates Corp now owns 56,689 shares of the company’s stock worth $38,000 after buying an additional 21,387 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Oatly Group during the 2nd quarter worth $41,000. Rhumbline Advisers grew its holdings in shares of Oatly Group by 76.1% during the 4th quarter. Rhumbline Advisers now owns 63,477 shares of the company’s stock worth $42,000 after purchasing an additional 27,428 shares in the last quarter. Privium Fund Management B.V. bought a new position in shares of Oatly Group in the third quarter worth $60,000. Finally, Geode Capital Management LLC raised its stake 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 in the last quarter. 68.15% of the stock is currently owned by institutional investors and hedge funds.

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.