Owlet (NYSE:OWLT) Rating Increased to Buy at Zacks Investment Research

Owlet (NYSE:OWLT – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm currently has a $4.25 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.26% from the company’s current price.

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. “

Separately, Citigroup boosted their price target on Owlet from $2.50 to $3.25 in a report on Thursday, May 12th.

Shares of Owlet stock opened at $3.82 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.97 and a quick ratio of 1.71. Owlet has a 1 year low of $1.59 and a 1 year high of $11.43. The company has a market capitalization of $431.92 million and a P/E ratio of -2.87. The business has a 50 day moving average price of $3.88 and a 200 day moving average price of $3.22.

Owlet (NYSE:OWLT – Get Rating) last issued its quarterly earnings data on Monday, March 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.12). The company had revenue of ($2.50) million during the quarter. As a group, research analysts expect that Owlet will post -0.59 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Owlet during the 3rd quarter valued at $85,000. BlackRock Inc. purchased a new stake in Owlet during the third quarter valued at about $5,489,000. Goldman Sachs Group Inc. acquired a new stake in Owlet during the third quarter worth about $979,000. Geode Capital Management LLC acquired a new position in shares of Owlet in the 3rd quarter valued at about $2,895,000. Finally, Wasatch Advisors Inc. purchased a new stake in shares of Owlet during the 3rd quarter worth about $17,004,000. 37.56% of the stock is owned by hedge funds and other institutional investors.

Owlet Company Profile (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 Smart Sock, a baby monitor to track an infant's oxygen levels, heart rates, and sleep trends; Dream Sock, an app to assist children for better sleep; Cam, a video streaming app to hear and see baby from anywhere; and Dream Lab, an interactive online platform that assists families in building healthy sleep habits.

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