RTTNews | Nov 15, 2021 10:45AM EST

10:45 Monday, November 15, 2021 (RTTNews.com) - Oatly Group AB (OTLY) shares are sliding more than 19 percent on Monday morning trade after the company reported a wider net loss for the third quarter, despite revenue growth.

The quarterly net loss was $41.2 million compared to $10.4 million last year. The company reported revenue of $171.06 million, up from $114.68 million last year.

For fiscal 2021, the company expects 51 percent increase in revenue to $635 million.

Currently, shares are trading $9.60, down 18.74 percent from the previous close of $11.82 on a volume of 13,488,778. For the 52-week period, the shares have traded in a range of $9.07 - $29.00 on average volume of 2,829,185.

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