Oatly Group (NASDAQ:OTLY) Price Target Cut to $16.00 by Analysts at Piper Sandler

Oatly Group (NASDAQ:OTLY) had its target price lowered by investment analysts at Piper Sandler from $40.00 to $16.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 86.83% from the company’s previous close.

Separately, Barclays lifted their price target on Oatly Group from $1.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th.

Oatly Group Price Performance

OTLY stock traded down $0.25 during midday trading on Wednesday, reaching $8.56. 39,808 shares of the company’s stock traded hands, compared to its average volume of 298,579. The company has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $14.50. 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 has a 1-year low of $6.00 and a 1-year high of $26.80. The company has a market cap of $254.80 million, a price-to-earnings ratio of -1.26 and a beta of 1.96.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OTLY. Sanctuary Advisors LLC raised its position in shares of Oatly Group by 33.9% during the third quarter. Sanctuary Advisors LLC now owns 55,778 shares of the company’s stock worth $48,000 after acquiring an additional 14,116 shares during the last quarter. Van ECK Associates Corp raised its holdings in Oatly Group by 60.6% during 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 during the last quarter. Two Sigma Advisers LP acquired a new position in Oatly Group during the 4th quarter valued at about $41,000. Rhumbline Advisers boosted its stake in shares of Oatly Group by 76.1% in the 4th quarter. Rhumbline Advisers now owns 63,477 shares of the company’s stock valued at $42,000 after purchasing an additional 27,428 shares during the last quarter. Finally, Privium Fund Management B.V. acquired a new stake in shares of Oatly Group during the 3rd quarter worth approximately $60,000. 68.15% of the stock is currently owned by 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.