Owlet (NYSE:OWLT) Downgraded to “Sell” at Zacks Investment Research

Owlet (NYSE:OWLTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Owlet Baby Care Inc. provides digital parenting platform aims to give parents real-time data and insights to help parents feel more calm and confident. Owlet Baby Care Inc., formerly known as Sandbridge Acquisition Corporation, is based in LOS ANGELES. “

OWLT stock opened at $3.79 on Friday. The stock’s 50 day simple moving average is $3.41 and its 200 day simple moving average is $3.24. The company has a quick ratio of 1.71, a current ratio of 1.97 and a debt-to-equity ratio of 0.14. Owlet has a fifty-two week low of $1.59 and a fifty-two week high of $11.43.

Owlet (NYSE:OWLTGet Rating) last released its quarterly earnings data on Monday, March 7th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.12). The firm had revenue of ($2.50) million during the quarter. On average, sell-side analysts expect that Owlet will post -0.59 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley acquired a new position in Owlet during the 3rd quarter valued at about $52,000. TownSquare Capital LLC purchased a new position in shares of Owlet during the first quarter valued at approximately $45,000. Wells Fargo & Company MN grew its holdings in Owlet by 2,299.1% during the fourth quarter. Wells Fargo & Company MN now owns 10,436 shares of the company’s stock worth $28,000 after buying an additional 10,001 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Owlet in the 3rd quarter valued at $60,000. Finally, Mirabella Financial Services LLP bought a new position in Owlet during the 4th quarter valued at $38,000. 11.31% of the stock is currently owned by institutional investors and hedge funds.

About Owlet (Get Rating)

Owlet, Inc operates as a digital parenting platform in the United States. The company's platform focuses on giving real-time data and insights to parents. Its products include owlet dream sock, a app to assist children for better sleep; owlet cam, a video streaming app to hear and see baby from anywhere, and dream lab, an online and interactive sleep training program for babies.

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