Owlet (NYSE:OWLT) Stock Price Down 5.3%

Owlet, Inc. (NYSE:OWLT – Get Rating)’s share price fell 5.3% during mid-day trading on Friday . The stock traded as low as $0.50 and last traded at $0.54. 283,085 shares changed hands during trading, an increase of 216% from the average session volume of 89,634 shares. The stock had previously closed at $0.57.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OWLT. Bank of America assumed coverage on Owlet in a report on Friday, September 30th. They set a “neutral” rating and a $1.50 price target for the company. Cowen cut their price objective on Owlet from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Cowen cut their price objective on Owlet to $3.00 in a research report on Thursday, November 17th. Finally, Citigroup cut their price objective on Owlet from $2.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th.

Owlet Stock Down 5.3 %

The company has a 50-day simple moving average of $0.72 and a two-hundred day simple moving average of $1.24. The firm has a market cap of $62.02 million, a PE ratio of -0.71 and a beta of 1.71.

Owlet (NYSE:OWLT – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $17.40 million during the quarter. As a group, equities analysts predict that Owlet, Inc. will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Owlet by 15.6% during the 3rd quarter. State Street Corp now owns 476,383 shares of the company’s stock valued at $510,000 after buying an additional 64,200 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Owlet during the 3rd quarter valued at $32,000. BlackRock Inc. lifted its position in shares of Owlet by 1.0% during the 3rd quarter. BlackRock Inc. now owns 1,441,342 shares of the company’s stock valued at $1,542,000 after buying an additional 13,985 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Owlet by 73.9% during the 3rd quarter. Salem Investment Counselors Inc. now owns 26,750 shares of the company’s stock valued at $29,000 after buying an additional 11,371 shares during the last quarter. Finally, Pelion Inc. purchased a new position in shares of Owlet during the 3rd quarter valued at $4,876,000. Hedge funds and other institutional investors own 40.63% of the company’s stock.

About Owlet

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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.