Owlet (NYSE:OWLT) Downgraded by Wall Street Zen to Sell

Owlet (NYSE:OWLT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

OWLT has been the subject of a number of other research reports. Northland Capmk upgraded Owlet to a “strong-buy” rating in a report on Wednesday, April 23rd. Northland Securities set a $12.00 price target on Owlet in a report on Wednesday, July 9th.

Owlet Stock Performance

Owlet stock opened at $7.76 on Friday. Owlet has a 52 week low of $2.75 and a 52 week high of $10.30. The stock has a market capitalization of $132.23 million, a P/E ratio of -2.22 and a beta of 1.80. The stock has a 50-day simple moving average of $7.83 and a 200 day simple moving average of $5.60.

Institutional Investors Weigh In On Owlet

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in Owlet during the second quarter worth about $90,000. Goldman Sachs Group Inc. bought a new position in Owlet during the first quarter worth about $43,000. Renaissance Technologies LLC increased its position in Owlet by 52.7% during the fourth quarter. Renaissance Technologies LLC now owns 48,437 shares of the company’s stock worth $216,000 after acquiring an additional 16,718 shares during the period. Northern Trust Corp increased its position in Owlet by 68.4% during the fourth quarter. Northern Trust Corp now owns 44,750 shares of the company’s stock worth $199,000 after acquiring an additional 18,169 shares during the period. Finally, Virtu Financial LLC bought a new position in Owlet during the first quarter worth about $95,000. Institutional investors own 72.60% of the company’s stock.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.