Archon Capital Management LLC Takes Position in Owlet, Inc. $OWLT

Archon Capital Management LLC acquired a new position in shares of Owlet, Inc. (NYSE:OWLT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 52,647 shares of the company’s stock, valued at approximately $442,000. Archon Capital Management LLC owned approximately 0.31% of Owlet as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Owlet during the 1st quarter worth about $95,000. Goldman Sachs Group Inc. acquired a new stake in shares of Owlet in the first quarter valued at about $43,000. Harbor Capital Advisors Inc. raised its holdings in Owlet by 70.0% during the second quarter. Harbor Capital Advisors Inc. now owns 402,260 shares of the company’s stock worth $3,379,000 after acquiring an additional 165,657 shares in the last quarter. XTX Topco Ltd acquired a new position in Owlet during the second quarter valued at approximately $90,000. Finally, Marshall Wace LLP bought a new position in Owlet in the second quarter valued at approximately $336,000. Institutional investors own 72.60% of the company’s stock.

Owlet Stock Performance

NYSE:OWLT opened at $13.68 on Friday. Owlet, Inc. has a 52 week low of $2.75 and a 52 week high of $13.84. The firm’s 50-day simple moving average is $10.04 and its 200 day simple moving average is $8.29. The firm has a market cap of $233.59 million, a price-to-earnings ratio of -4.64 and a beta of 1.80.

Owlet (NYSE:OWLT) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.26. Owlet had a negative net margin of 39.32% and a negative return on equity of 0.36%. The firm had revenue of $31.99 million during the quarter, compared to the consensus estimate of $26.00 million. Sell-side analysts anticipate that Owlet, Inc. will post -0.76 EPS for the current year.

Analyst Upgrades and Downgrades

OWLT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Owlet from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Northland Securities set a $15.50 price target on Owlet in a report on Friday, November 14th. Finally, Zacks Research upgraded Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Owlet Company Profile

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.