Owlet, Inc. (NYSE:OWLT) Receives Average Rating of “Hold” from Analysts

Owlet, Inc. (NYSE:OWLT) has been assigned a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.00.

OWLT has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Owlet in a research report on Thursday, January 22nd. Wall Street Zen lowered Owlet from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Northland Securities set a $20.00 target price on Owlet and gave the stock an “outperform” rating in a research report on Tuesday, December 30th. Zacks Research downgraded Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, William Blair initiated coverage on Owlet in a research report on Tuesday, December 9th. They issued an “outperform” rating for the company.

Insider Buying and Selling

In related news, CEO Jonathan Harris sold 2,311 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $13.33, for a total value of $30,805.63. Following the completion of the sale, the chief executive officer owned 264,396 shares in the company, valued at $3,524,398.68. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 52.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Informed Momentum Co LLC raised its holdings in shares of Owlet by 1.6% in the fourth quarter. Informed Momentum Co LLC now owns 112,893 shares of the company’s stock valued at $1,828,000 after buying an additional 1,737 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Owlet during the fourth quarter worth about $60,000. Harbor Capital Advisors Inc. increased its position in Owlet by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock valued at $1,971,000 after acquiring an additional 4,160 shares during the period. Bank of America Corp DE raised its stake in Owlet by 6,517.7% during the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after acquiring an additional 5,149 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Owlet during the 2nd quarter valued at approximately $90,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Owlet Price Performance

OWLT stock opened at $5.12 on Thursday. The business has a 50 day moving average price of $10.26 and a 200 day moving average price of $10.86. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $144.24 million, a price-to-earnings ratio of -1.89 and a beta of 1.77. Owlet has a fifty-two week low of $2.75 and a fifty-two week high of $16.94.

Owlet (NYSE:OWLT) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.10. The company had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $26.01 million. Equities research analysts anticipate that Owlet will post -0.76 earnings per share for the current fiscal year.

Owlet Company Profile

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.