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

Owlet, Inc. (NYSE:OWLT) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.25.

A number of research firms recently weighed in on OWLT. Zacks Research raised Owlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Wall Street Zen cut shares of Owlet from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research note on Thursday, January 22nd. Northland Securities set a $20.00 price objective on shares of Owlet and gave the company an “outperform” rating in a report on Tuesday, December 30th. Finally, William Blair started coverage on Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating for the company.

Insider Transactions at Owlet

In other Owlet news, CEO Jonathan Harris sold 2,311 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total value of $30,805.63. Following the sale, the chief executive officer owned 264,396 shares in the company, valued at approximately $3,524,398.68. The trade was a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 52.20% of the company’s stock.

Institutional Investors Weigh In On Owlet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntleigh Advisors Inc. bought a new position in shares of Owlet during the 4th quarter worth approximately $1,069,000. Calamos Advisors LLC bought a new stake in Owlet in the 4th quarter valued at $1,259,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Owlet during the 4th quarter valued at $60,000. Harbor Capital Advisors Inc. lifted its stake in shares of Owlet by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock worth $1,971,000 after buying an additional 4,160 shares during the last quarter. Finally, Granahan Investment Management LLC lifted its position in Owlet by 135.9% during the third quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock worth $4,319,000 after acquiring an additional 293,771 shares during the last quarter. 72.60% of the stock is owned by institutional investors.

Owlet Stock Up 6.5%

NYSE OWLT opened at $12.89 on Wednesday. Owlet has a twelve month low of $2.75 and a twelve month high of $16.94. The company’s 50-day simple moving average is $14.16 and its 200 day simple moving average is $10.53. The stock has a market cap of $220.18 million, a P/E ratio of -4.37 and a beta of 1.77.

Owlet (NYSE:OWLT) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.26. The company had revenue of $31.99 million for the quarter, compared to analyst estimates of $26.00 million. Research analysts anticipate that Owlet will post -0.76 earnings per share 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.