Owlet (NYSE:OWLT) Cut to Hold at Zacks Research

Zacks Research lowered shares of Owlet (NYSE:OWLT) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Owlet from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Northland Securities set a $20.00 price target on shares of Owlet and gave the company an “outperform” rating in a research note on Tuesday, December 30th. William Blair started coverage on shares of Owlet in a research report on Tuesday, December 9th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Owlet in a report on Thursday, January 22nd. Finally, TD Cowen restated a “buy” rating on shares of Owlet in a research report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.

Owlet Trading Down 0.2%

Owlet stock opened at $11.82 on Monday. The company has a market capitalization of $201.89 million, a price-to-earnings ratio of -4.01 and a beta of 1.77. Owlet has a 12 month low of $2.75 and a 12 month high of $16.94. The stock’s 50 day moving average is $13.10 and its 200-day moving average is $11.00.

Insider Buying and Selling

In other Owlet news, CEO Jonathan Harris sold 2,311 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $13.33, for a total value of $30,805.63. Following the transaction, the chief executive officer directly owned 264,396 shares of the company’s stock, valued at $3,524,398.68. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Owlet

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in Owlet in the first quarter valued at approximately $43,000. Bank of America Corp DE increased its stake 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. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Owlet during the 4th quarter worth $60,000. XTX Topco Ltd acquired a new position in shares of Owlet during the 2nd quarter worth $90,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Owlet during the 4th quarter worth $242,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

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.