Owlet, Inc. (NYSE:OWLT) Given Consensus Rating of “Buy” by Brokerages

Owlet, Inc. (NYSE:OWLT) has earned an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.25.

Several research analysts have recently commented on OWLT shares. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Northland Securities set a $20.00 price target on shares of Owlet and gave the company an “outperform” rating in a research report on Tuesday, December 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research note on Wednesday, October 8th. William Blair initiated coverage on Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen raised Owlet from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th.

Institutional Trading of Owlet

A number of large investors have recently made changes to their positions in OWLT. Granahan Investment Management LLC raised its holdings in Owlet by 135.9% in the third quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock valued at $4,319,000 after acquiring an additional 293,771 shares in the last quarter. Bank of America Corp DE increased its position in shares of Owlet by 6,517.7% in the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after purchasing an additional 5,149 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Owlet by 86.3% in the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock valued at $3,302,000 after purchasing an additional 180,619 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Owlet in the 2nd quarter valued at $1,653,000. Finally, Archon Capital Management LLC purchased a new stake in shares of Owlet during the 2nd quarter worth $442,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

Owlet Price Performance

Shares of OWLT stock opened at $15.80 on Friday. The company has a market capitalization of $269.93 million, a PE ratio of -5.36 and a beta of 1.78. The firm’s 50-day moving average is $13.19 and its two-hundred day moving average is $9.90. Owlet has a 12 month low of $2.75 and a 12 month high of $16.94.

Owlet (NYSE:OWLT) last posted its earnings results on Thursday, November 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.26. The business had revenue of $31.99 million during the quarter, compared to analysts’ expectations of $26.00 million. Sell-side analysts forecast that Owlet will post -0.76 EPS for the current year.

About Owlet

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.